At January 1, 2012, Beidler Company reported retained earnings of $2,000,000. In 2012, Beidler discovered that 2011
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At January 1, 2012, Beidler Company reported retained earnings of $2,000,000. In 2012, Beidler discovered that 2011 depreciation expense was understated by $400,000. In 2012, net income was $900,000 and dividends declared were $250,000. The tax rate is 40%. Prepare a 2012 retained earnings statement for Beidler Company.
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Retained Earnings Statement For the year ended December 31 20...View the full answer
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