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(Computation of Retained Earnings) The following information has been taken from the ledger accounts of Isaac Stern Corporation.
Total income since incorporation $317,000
Total cash dividends paid 60,000
Total value of stock dividends distributed 30,000
Gains on treasury stock transactions 18,000
Unamortized discount on bonds payable 32,000
Instructions
Determine the current balance of retained earnings.

Respuesta :

Answer:

The current balance of retained earnings is $227,000

ExpIanation:

In order to calculate the current balance of retained earnings we would have to calculate the following formula:

current balance of retained earnings=Total income since incorporation-Total cash dividends paid-Total value of stock dividends distributed

current balance of retained earnings=$317,000-$60,000-$30,000

current balance of retained earnings=$227,000

The current balance of retained earnings is $227,000

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