Question
Asters opening retained earnings balance was $400,000. During the current year, Aster corrected a $30,000 error that had understated expenses in the prior year. If
Asters opening retained earnings balance was $400,000. During the current year, Aster corrected a $30,000 error that had understated expenses in the prior year. If Asters tax rate is 20%, what will be its adjusted opening retained earnings balance?
A) $424,000
B) $400,000
C) $376,000
D) $430,000
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People Centric Skills Interpersonal And Communication Skills For Financial Professionals
Authors: Danny M. Goldberg
2nd Edition
1119669308, 978-1119669302
