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can someone help me answer this homework question asap please Tuscan incorporated had a retained earnings balance of $94,000 at December 31,2019 . During the
can someone help me answer this homework question asap please
Tuscan incorporated had a retained earnings balance of $94,000 at December 31,2019 . During the year, Tuscan had the following selected transactions: - Reported net income of $134,000. - Revised an estimate of a machine's salvage value. Depreciation increased by $4,400 per year. - An error was discovered. Three years ago, a purchase of a building was incorrectly expensed. The effect is understated retained earnings of $46,000 (net of tax benefit) - Paid cash dividends of $67,000. Calculate the retained eamings balance at December 31,2020 Note: Amounts to be deducted should be indicated with a minus sign Step by Step Solution
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