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 $853,000. b. Amos discovered this year that it forgot to record depreciation expense of $45,600 (net of tax benefit) two years ago. c. Cash dividends declared and paid in the current year were $26,000. d. Reported $216,000 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 a minus sign.) Prior period adjustment AMOS COMPANY Statement of Retained Earnings For Current Year Ended December 31

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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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 $853,000.
b. Amos discovered this year that it forgot to record depreciation expense of $45,600 (net of tax benefit) two years ago.
c. Cash dividends declared and paid in the current year were $26,000.
d. Reported $216,000 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
a minus sign.)
Prior period adjustment
AMOS COMPANY
Statement of Retained Earnings
For Current Year Ended December 31
Transcribed Image Text: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 $853,000. b. Amos discovered this year that it forgot to record depreciation expense of $45,600 (net of tax benefit) two years ago. c. Cash dividends declared and paid in the current year were $26,000. d. Reported $216,000 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 a minus sign.) Prior period adjustment AMOS COMPANY Statement of Retained Earnings For Current Year Ended December 31
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