Question
E14-8B On January 1, 2017, Zuniga Corporation had retained earnings of $550,000. During the year, Zuniga had the following selected transactions. 1. Declared cash dividends
E14-8B
On January 1, 2017, Zuniga Corporation had retained earnings of $550,000. During the year, Zuniga had the following selected transactions.
1. Declared cash dividends $140,000. 2. Corrected overstatement of 2016 net income because of depreciation error $50,000. 3. Earned net income $350,000. 4. Declared stock dividends $60,000.
Instructions Prepare a retained earnings statement for the year.
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Comparative International Accounting
Authors: Christopher Nobes, Robert Parker
13th edition
1292081902, 1292081908, 9781292081960 , 1292081961, 978-1292081908
