In 2009 Kieso Enterprises failed to record depreciation expense of $ 30,000. The accountant discovered this error

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In 2009 Kieso Enterprises failed to record depreciation expense of $ 30,000. The accountant discovered this error in 2010. Kieso is subject to a 35 percent tax rate. What is the effect of this error on retained earnings?

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Introduction to Accounting An Integrated Approach

ISBN: 978-0078136603

6th edition

Authors: Penne Ainsworth, Dan Deines

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Question Posted: Mar 25, 2015 11:51 AM

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In 2009 Kieso Enterprises failed to record depreciation expense of $ 30,000. The accountant discovered this error

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The30000 is a prior period adjustment and would be reported net of 10500 of tax saving as ...View the full answer

Introduction to Accounting An Integrated Approach

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