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Moore Corporation reports the following information: Correction of understatement of depreciation expense in prior years (i.e. last year the firm omitted some depreciation expense), net

Moore Corporation reports the following information:

Correction of understatement of depreciation expense

in prior years (i.e. last year the firm omitted some depreciation expense), net of tax $ 1,000,000

Dividends declared and paid of this year 500,000

Net income of this year 3,000,000

Retained earnings, as reported at the BEGINNING of this year 6,000,000

Required: answer the following matching questions

The adjusted journal entry to correct the prior year's omission of depreciation expense is?

Balance of Retained Earnings at the end of this year?

Adjusted (Corrected) Retained Earnings at Beginning of this year?

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