Exercise 13-18 (Algo) Preparing a statement of retained earnings with prior period adjustment LO C3 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 $858.000 b. Amos discovered this year that it forgot to record depreciation expense of $39,600 (net of tax benefit two years ago. c. Cash dividends declared and paid in the current year were $13,000 d. Reported $213,000 of net income in the current year Prepare a statement of retained earnings for Amos Company for the current year. (Amounts to be deducted should be indicated with minus sign)
Exercise 13-18 (Algo) Preparing a statement of retained earnings with prior period adjustment LO C3 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 $858.000 b. Amos discovered this year that it forgot to record depreciation expense of $39,600 (net of tax benefit two years ago. c. Cash dividends declared and paid in the current year were $13,000 d. Reported $213,000 of net income in the current year Prepare a statement of retained earnings for Amos Company for the current year. (Amounts to be deducted should be indicated with minus sign)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Exercise 13-18 (Algo) Preparing a statement of retained earnings with prior period adjustment LO C3
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 $858,000
b. Amos discovered this year that it forgot to record depreciation expense of $39.600 (net of tax benefit) two years ago.
c. Cosh dividends declared and paid in the current year were $13,000
d. Reported $213,000 of net income in the current year.
Prepare a statement of retained earnings for Amos Company for the current year. (Amounts to be deducted should be indicated with
minus sign.)
Prior period adjustment
AMOS COMPANY
Statement of Retained Earnings
For Current Year Ended December 31
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