Question

Blackboard Colaborate Grammy Wayne State Uc of Classes Psychology of Women CASPA Academica Youtube backboard Learn Ch 15 Graded Homework book Send to Gradebook ules Question 7 Accounting wly Updates View Policies Current Attempt in Progress ent Practice and lons Manual The following information has been taken from the ledger accounts of Pearl Corporation CPAexcel Con- d Access assions Total income since incorporation Total cash dividends pald Total value of stock dividends distributed Gains on treasury stock transactions Unamortized discount on bonds payable $312,000 54,000 29,000 16,000 35,000 erences borations PLUS Support Determine the current balance of retained earnings. Current balance of retained earnings $ eTextbook and Media Save for Later Send to Gradebook MacBook Air

Answer 1

Solution:

Current balance of retained earnings = Total income - Total cash dividend paid - total stock dividend

= $312000 - $54000 - $29000

= $229,000