At January 1, 2015, Cheng Company reported retained earnings of 20,000,000. In 2015, Cheng discovered that 2014

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At January 1, 2015, Cheng Company reported retained earnings of ¥20,000,000. In 2015, Cheng discovered that 2014 depreciation expense was understated by ¥4,000,000. In 2015, net income was

¥9,000,000 and dividends declared were ¥2,500,000. The tax rate is 40%. Prepare a 2015 retained earnings statement for Cheng Company.

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Intermediate Accounting IFRS Edition

ISBN: 9781118443965

2nd Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Question Posted: Mar 17, 2024 07:01 AM

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At January 1, 2015, Cheng Company reported retained earnings of 20,000,000. In 2015, Cheng discovered that 2014

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Intermediate Accounting IFRS Edition

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