The following information has been taken from the ledger accounts of Sampras Corporation.Total income since incorporation ...........$287,000Total cash dividends paid ...............60,000Total value of stock dividends distributed ........40,000Gains on treasury stock transactions ...........18,000Unamortized discount on bonds payable ..........32,000InstructionsDetermine the current balance of retained earnings.
Chapter 15, Exercises #16
The following information has been taken from the ledger accounts of Sampras Corporation.
Total income since incorporation ...........$287,000
Total cash dividends paid ...............60,000
Total value of stock dividends distributed ........40,000
Gains on treasury stock transactions ...........18,000
Unamortized discount on bonds payable ..........32,000
Instructions
Determine the current balance of retained earnings.
Total income since incorporation ...........$287,000
Total cash dividends paid ...............60,000
Total value of stock dividends distributed ........40,000
Gains on treasury stock transactions ...........18,000
Unamortized discount on bonds payable ..........32,000
Instructions
Determine the current balance of retained earnings.
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