Duke Corporation reports the following components of stockholders' equity on December 31, 2013: $\begin{array}{lr}
\text { Common stock — } \$ 25 \text { par value, } 100,000 \text { shares authorized, 45,000 shares issued } & \$ 1,125,000 \
\text { and outstanding } \
\text { Paid-in capital in excess of par value, common stock } & 60,000\
\text { Retained earnings } & 460,000 \
\text { Total stockholders' equity }& \$ 1,645,000
\end{array}$
What is the amount in the Retained Earnings account immediately after the dividend on July 15?

Question

Duke Corporation reports the following components of stockholders' equity on December 31, 2013: $\begin{array}{lr}
\text { Common stock — } \$ 25 \text { par value, } 100,000 \text { shares authorized, 45,000 shares issued } & \$ 1,125,000 \
\text { and outstanding }  \
\text { Paid-in capital in excess of par value, common stock } & 60,000\
\text { Retained earnings } & 460,000  \
\text { Total stockholders' equity }& \$ 1,645,000
\end{array}$
 What is the amount in the Retained Earnings account immediately after the dividend on July 15?

Quizplus · Accepted Answer

The Answer of Duke Corporation reports the following components of stockholders' equity on December 31, 2013: $\begin{array}{lr}
\text { Common stock — } \$ 25 \text { par value, } 100,000 \text { shares authorized, 45,000 shares issued } & \$ 1,125,000 \
\text { and outstanding }  \
\text { Paid-in capital in excess of par value, common stock } & 60,000\
\text { Retained earnings } & 460,000  \
\text { Total stockholders' equity }& \$ 1,645,000
\end{array}$
 What is the amount in the Retained Earnings account immediately after the dividend on July 15?

Duke Corporation Reports the Following Components of Stockholders' Equity on December