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Due to an error in computing depreciation expense, Prewitt Corporation overstated accumulated depreciation by $7 million as of December 31, 2013. Prewitt has a tax
Due to an error in computing depreciation expense, Prewitt Corporation overstated accumulated depreciation by $7 million as of December 31, 2013. Prewitt has a tax rate of 40%. Prewitt's retained earnings as of December 31, 2013, would be
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Accounting Principles Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
9th Canadian Edition
978-1119786818, 1119786819
