q23

Question 23 ABC Corporation reports the following information: Correction of understatement of depreciation expenso in prior years, before tax $ 5,000 Dividends declared, 2015 2,000 Net income for 2015 100,000 Retained earnings, 1/1/15, as reported 30,000 Income tax rate 10% ABC should report retained earnings, December 31, 2015 O A. 133,000 OB. 123,500 C. 132,500 D. 123,000 $5,000 ABC Corporation reports the following information Correction of understatement of depreciation Expo in prior years, before tax Dividends declared, 2015 Net income for 2015 Retained earnings, 1/1/15, as reported 2.000 100.000 30.000 10% Income tax rate ABC should report retained earnings, December 31, 2015 O A. 133,000 OB. 123,500 O C. 132,500 OD. 123,000 ABC Corporation reports the following information Correction of understatement of depreciation exponse in prior years, before tax $ 5.000 Dividends declared, 2015 2,000 100,000 30,000 Net income for 2015 Retained earnings, 1/1/15, as reported Income tax rate ABC should report retained earnings, December 31, 2015 10% O A 133,000 OB. 123,500 O C. 132,500 OD. 123,000