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Business
Accounting
Total income since incorporation Total cash dividends paid Total value of stock dividends distributed Gains on treasury stock transactions Unamortized discount on bonds payable $344,000 61,000 29,000 17,000 29,000

Total income since incorporation Total cash dividends paid Total value of stock dividends distributed Gains on treasury stock transactions Unamortized discount on bonds payable $344,000 61,000 29,000 17,000 29,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information has been taken from the ledger accounts of Teal Corporation. Total income since incorporation Total cash dividends paid Total value of stock dividends distributed Gains on treasury stock transactions Unamortized discount on bonds payable $344,000 Current balance of retained earnings $ 61,000 29,000 17,000 29,000 Determine the current balance of retained earnings.
Transcribed Image Text:The following information has been taken from the ledger accounts of Teal Corporation. Total income since incorporation Total cash dividends paid Total value of stock dividends distributed Gains on treasury stock transactions Unamortized discount on bonds payable $344,000 Current balance of retained earnings $ 61,000 29,000 17,000 29,000 Determine the current balance of retained earnings.
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