Question
Buster Corporation has the following items for the year ending December 31, 20XX. Retained earnings, balance, January 1 - $1,600,000; Corrected an error that had
Buster Corporation has the following items for the year ending December 31, 20XX.
Retained earnings, balance, January 1 - $1,600,000;
Corrected an error that had understated the net income two years ago - 70,000;
Net Income (current year) - 150,000;
Stock Dividends - $10,000
Cash Dividends - $45,000
Instructions: prepare in proper format the retained earnings statement.
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Financial & Managerial Accounting For Undergraduates
Authors: Jason Wallace, James Nelson, Karen Christensen, Theodore Hobson, Scott L. Matthews
2nd Edition
161853310X, 9781618533104
