Question
Corporation reports the following information: Correction of understatement of depreciation expense in prior years, net of tax$ 645,000 Dividends declared480,000 Net income1,500,000 Retained earnings, 1/1/X2,
Corporation reports the following information:
Correction of understatement of depreciation expense
in prior years, net of tax$ 645,000
Dividends declared480,000
Net income1,500,000
Retained earnings, 1/1/X2, as reported3,000,000
Corporation should report retained earnings, 12/31/X2, as adjusted at __________
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Corporate Financial Accounting
Authors: Carl S Warren, Jeff Jones
16th Edition
0357510380, 978-0357510384
