Annie May Bakery, Inc. reported a prior-period adjustment in 2014. An accounting error caused net income of
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Annie May Bakery, Inc. reported a prior-period adjustment in 2014. An accounting error caused net income of prior years to be overstated by $ 10,000. Retained Earnings at December 31, 2013, as previously reported, was $ 47,000. Net income for 2014 was $ 71,000, and dividends declared were $ 29,000. Prepare the company’s statement of retained earnings for the year ended December 31, 2014.
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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