On January 1, 2004, Yorkville Hotels Corporation had Retained Earnings of $580,000. During the year, Yorkville had
Question:
On January 1, 2004, Yorkville Hotels Corporation had Retained Earnings of $580,000.
During the year, Yorkville had the following selected transactions. LO5 1. Declared cash dividends $120,000.
2. Corrected overstatement of 2003 net income because of depreciation error $20,000.
3. Earned net income $310,000.
4. Declared stock dividends $60,000.
Instructions Prepare a retained earnings statement for the year.
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Related Book For 
Hospitality Financial Accounting
ISBN: 9780471270553
1st Edition
Authors: Jerry J Weygandt, Donald E Kieso, Paul D Kimmel, Agnes L DeFranco
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