The result of these two transactions combined is an increase in retained earnings of $824.
Earning is the sum of money or other compensation received in exchange for providing goods or services. It is typically associated with employment, where an individual performs a job in exchange for wages or salary. In a broader sense, earning can also refer to the profits or income generated from investments, business operations, and other sources. Earning is an important concept in personal finance, as it is a major source of income for many individuals. Earning can also be seen as a form of economic reward for providing goods and services to others. Earning is generally recorded on a regular basis and is used to calculate taxes and other liabilities.
This is because when the treasury stock was purchased for $2,363, it was recorded as a decrease in retained earnings. When it was sold for $3,187, it was recorded as an increase in retained earnings. The difference between the amount received for the treasury stock and the amount paid for it is recorded as an increase in retained earnings. Thus, the increase in retained earnings is $824 (3,187 - 2,363).
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