Question

In: Accounting

Retained earnings:

Please calculate the Retained earnings, Dec. 31, Current year:

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Expert Solution

AMOS COMPANY

Statement of Retained Earnings

For Current Year Ended December 31

Retained Earnings Dec. 31 prior year

$858,000

Prior period adjustment

  

Depreciation expense not recorded (net of tax)

-41,600

Retained earnings, Dec. 31 prior year, as adjusted

$816,400

Add: Net income

221,000

Less: Dividends

-19,000

Retained earnings, Dec. 31, Current year

$1,018,400

Retained earnings, Dec. 31, Current year = $1,018,400

Retained earnings, Dec. 31, Current year = $1,018,400

DEEPIKA GOYAL answered 3 years ago
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