On the statement of financial position, Hernandez Company had retained earnings of USD 650, 000, but it was disclosed in the footnotes that USD55,000 of retained earnings was restricted for building expansion and USD46,000 was restricted for bond repayments. A total cash of USD70,000 had also been set aside for plant expansion. How much of Hernandez Company's retained earnings are available for dividends?
On the statement of financial position, Hernandez Company had retained earnings of USD 650, 000, but it was disclosed in the footnotes that USD55,000 of retained earnings was restricted for building expansion and USD46,000 was restricted for bond repayments. A total cash of USD70,000 had also been set aside for plant expansion. How much of Hernandez Company's retained earnings are available for dividends?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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