A Corporation Began the Current Year with $250,000 of Unappropriated

question 133

Short Answer

A corporation began the current year with $250,000 of unappropriated retained earnings.During the current year it earned $120,000 of net (after-tax) income,declared $75,000 of cash dividends,paid $50,000 of the cash dividends and purchased treasury stock costing $40,000.Calculate the current year-end balance in retained earnings.

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Definitions:

Epinephrine

A hormone and neurotransmitter also known as adrenaline, involved in the body's fight-or-flight response.

Eustress

Positive stress that motivates and focuses energy, perceived as within our coping abilities.

Fight-Or-Flight Response

A physiological reaction that occurs in response to a perceived harmful event, attack, or threat to survival.

Stress Reduction

Strategies or techniques used to decrease stress, which can include physical activity, meditation, therapy, or changes in lifestyle.