Question
At January 1, 2017, Blue Company reported retained earnings of $1,956,000. In 2017, Blue discovered that 2016 depreciation expense was understated by $427,000. In 2017,
At January 1, 2017, Blue Company reported retained earnings of $1,956,000. In 2017, Blue discovered that 2016 depreciation expense was understated by $427,000. In 2017, net income was $855,000 and dividends declared were $261,000. The tax rate is 40%. Prepare a 2017 retained earnings statement for Blue Company.
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The Auditors Guide Of 1869 A Review And Computer Enhancement Of Recently Discovered Old Microfilm Of Americas First Book On Auditing By H J Mettenheimer
Authors: Peter L. McMickle, Paul H. Jensen
1st Edition
0367534622, 978-0367534622
