Question
The following information has been taken from the general ledger accounts of Novak Gas Corporation. Total income since incorporation $657,000 Total cash dividends paid 78,000
The following information has been taken from the general ledger accounts of Novak Gas Corporation.
Total income since incorporation $657,000
Total cash dividends paid 78,000
Total value of stock dividends distributed 123,000
Unamortized premium on bonds payable 14,000
Loss on treasury stock transactions 3,000
Determine the current balance of retained earnings. Current Balance of Retained Earnings $enter the Current Balance of Retained Earnings in dollars
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Survey of Accounting
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
3rd Edition
ISBN: 978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856
