White Corporations financial accounting records disclose the following results for the period ending December 31 of the

Question:

White Corporation’s financial accounting records disclose the following results for the period ending December 31 of the current year:
Retained earnings balance on January 1 ………………………… $246,500
Net income for year ……………………………………………… 259,574
Contingency reserve established on December 31 ……………… 60,000
Cash paid on July 23 …………………………………… 23,000
What is White’s unappropriated retained earnings balance on December 31 of the current year?
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...