Question
Rami corporation had retained earnings of 750,000 on Jan 1, 2020. During the year the company experienced a net loss of 300,000 and declared a
Rami corporation had retained earnings of 750,000 on Jan 1, 2020. During the year the
company experienced a net loss of 300,000 and declared a cash dividend of 80,000. It was
discovered in 2020 that 50,000 (Net of Tax) of repair expense was debited to the land account in
2019. The income rate is 20%. Determine the retained earnings balance at Dec 31st, 2020.
Rami corporation had retained earnings of 750,000 on Jan 1, 2020. During the year the company experienced a net loss of 300,000 and declared a cash dividend of 80,000. It was discovered in 2020 that 50,000 (Net of Tax) of repair expense was debited to the land account in 2019. The income rate is 20%. Determine the retained earnings balance at Dec 31st, 2020.
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Eco Management And Audit Scheme
Authors: Gerardus Blokdyk
3rd Edition
0655169709, 978-0655169703
