Question
The following information has been taken from the ledger accounts of Skysong Corporation. Total income since incorporation$296,000Total cash dividends paid55,000Total value of stock dividends distributed33,000Gains
The following information has been taken from the ledger accounts of Skysong Corporation.
Total income since incorporation$296,000Total cash dividends paid55,000Total value of stock dividends distributed33,000Gains on treasury stock transactions17,000Unamortized discount on bonds payable29,000
Determine the current balance of retained earnings.
Current balance of retained earnings $_______
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
17th edition
978-0273778172, 027377817X, 978-1292080505
