Question
The following information pertains to Rudolph Corp. for the year ended September 30, 2022. Net Income P 75,000 Retained Earnings, October 1, 2021 860,000 Cash
The following information pertains to Rudolph Corp. for the year ended September 30, 2022.
Net Income P 75,000
Retained Earnings, October 1, 2021 860,000
Cash dividends declared 16,400
A 2 for 1 split was declared, value of Ordinary Share Capital 200,000
Understatement of depreciation expense of 2018 and 2019-pretax 62,000
Tax rate 30%
Compute for the retained earnings balance on September 30, 2022.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Managerial Accounting Decision Making and Performance Management
Authors: Ray Proctor
4th edition
273764489, 978-0273764489
