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10 5 ints 3 02:30:30 eBook The following information is from Amos Company for the current year ended December 31. a. Retained earnings at December 31 of the prior year (before discovery of an error) was $1,375,000. b. Amos discovered this year that it forgot to record depreciation expense of $55,500 (net of tax benefit) two years ago. c. Cash dividends declared and paid in the current year were $43,000. d. Reported $126,000 of net income in the current year. Prepare a statement of retained earnings for Amos Company for the current year. Note: Amounts to be deducted should be indicated with a minus sign. Print References Prior period adjustment AMOS COMPANY Statement of Retained Earnings For Current Year Ended December 31

10 5 ints 3 02:30:30 eBook The following information is from Amos Company for the current year ended December 31. a. Retained earnings at December 31 of the prior year (before discovery of an error) was $1,375,000. b. Amos discovered this year that it forgot to record depreciation expense of $55,500 (net of tax benefit) two years ago. c. Cash dividends declared and paid in the current year were $43,000. d. Reported $126,000 of net income in the current year. Prepare a statement of retained earnings for Amos Company for the current year. Note: Amounts to be deducted should be indicated with a minus sign. Print References Prior period adjustment AMOS COMPANY Statement of Retained Earnings For Current Year Ended December 31

Individual Income Taxes
Individual Income Taxes
43rd Edition
ISBN:9780357109731
Author:Hoffman
Publisher:Hoffman
Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion
Section: Chapter Questions
Problem 30CE
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10 5 ints 3 02:30:30 eBook The following information is from Amos Company for the current year ended December 31. a. Retained earnings at December 31 of the prior year (before discovery of an error) was $1,375,000. b. Amos discovered this year that it forgot to record depreciation expense of $55,500 (net of tax benefit) two years ago. c. Cash dividends declared and paid in the current year were $43,000. d. Reported $126,000 of net income in the current year. Prepare a statement of retained earnings for Amos Company for the current year. Note: Amounts to be deducted should be indicated with a minus sign. Print References Prior period adjustment AMOS COMPANY Statement of Retained Earnings For Current Year Ended December 31
Transcribed Image Text:10 5 ints 3 02:30:30 eBook The following information is from Amos Company for the current year ended December 31. a. Retained earnings at December 31 of the prior year (before discovery of an error) was $1,375,000. b. Amos discovered this year that it forgot to record depreciation expense of $55,500 (net of tax benefit) two years ago. c. Cash dividends declared and paid in the current year were $43,000. d. Reported $126,000 of net income in the current year. Prepare a statement of retained earnings for Amos Company for the current year. Note: Amounts to be deducted should be indicated with a minus sign. Print References Prior period adjustment AMOS COMPANY Statement of Retained Earnings For Current Year Ended December 31
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