Appropriation for bonded, Appropriation for bonded

Appropriation for bonded

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Reference no: EM13912603

On January 1 of the current year, the retained earnings accounts for Corporation X were as follows:

Appropriation for bonded indebtedness 200,000

Retained Earnings 400,000

Relevant facts for the year are as follows:

Cash divided declared 80,000

Decrease in appropriation for bonded indebtedness 90,000

Net Income 550,000

Increase in appropriation for treasury stock 40,000

stock dividends 50,000

Prepare a retained earnings statement.

Reference no: EM13912603

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