Question
Moorman Corporation reports the following information: Correction of understatement of depreciation expense in prior years, net of tax $1,290,000; Dividends declared $960,000; Net income $3,000,000;
Moorman Corporation reports the following information: Correction of understatement of depreciation expense in prior years, net of tax $1,290,000; Dividends declared $960,000; Net income $3,000,000; Retained earnings, 1/1/20, as reported $6,000,000. How much retained earnings should Moorman report at 12/31/20?
| $4,710,000.00 $6,750,000.00 | |
| $8,040,000.00 | |
| $9,330,000.00 |
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GAO Financial Audit Manual Volume 3 June 2018
Authors: United States Government GAO
2018 Edition
979-8733166001
