Bonita Ltd. has retained earnings of NT$679,700 at January 1, 2022. Net income during 2022 was NT$1,641,700, and cash dividends declared and paid during 2022 totaled NT$81,700. Prepare a retained earnings statement for the year ended December 31, 2022. Assume an error was discovered: Land costing NT$86,300 (net of tax) was charged to repairs expense in 2021. (List items that increase retained earnings first.)

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter22: Accounting For Changes And Errors.
Section: Chapter Questions
Problem 10MC: Shannon Corporation began operations on January 1, 2019. Financial statements for the years ended...
icon
Related questions
Question
Bonita Ltd. has retained earnings of NT$679,700 at January 1, 2022. Net income during 2022 was NT$1,641,700, and cash dividends
declared and paid during 2022 totaled NT$81,700. Prepare a retained earnings statement for the year ended December 31, 2022.
Assume an error was discovered: Land costing NT$86,300 (net of tax) was charged to repairs expense in 2021. (List items that increase
retained earnings first.)
BONITA LTD
Retained Earnings Statement
NT$
NT$
>
>
Transcribed Image Text:Bonita Ltd. has retained earnings of NT$679,700 at January 1, 2022. Net income during 2022 was NT$1,641,700, and cash dividends declared and paid during 2022 totaled NT$81,700. Prepare a retained earnings statement for the year ended December 31, 2022. Assume an error was discovered: Land costing NT$86,300 (net of tax) was charged to repairs expense in 2021. (List items that increase retained earnings first.) BONITA LTD Retained Earnings Statement NT$ NT$ > >
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning