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Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275 Exercise 19
The following information is available for Amos Company for the year ended December 31, 2015.
a. Balance of retained earnings, December 31, 2014, prior to discovery of error, $1,375,000.
b. Cash dividends declared and paid during 2015, $43,000.
c. It neglected to record 2013 depreciation expense of $55,500, which is net of $4,500 in tax benefits.
d. The company earned $126,000 in 2015 net income.
Prepare a 2015 statement of retained earnings for Amos Company.
a. Balance of retained earnings, December 31, 2014, prior to discovery of error, $1,375,000.
b. Cash dividends declared and paid during 2015, $43,000.
c. It neglected to record 2013 depreciation expense of $55,500, which is net of $4,500 in tax benefits.
d. The company earned $126,000 in 2015 net income.
Prepare a 2015 statement of retained earnings for Amos Company.
Explanation
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In this case, closing balance given as o...
Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
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