Presented below is information related to Bonita Corp. for the year 2020. Net sales Cost of...
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Presented below is information related to Bonita Corp. for the year 2020. Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue $1,248,000 748,800 62,400 46,080 19,200 6,720 Write-off of inventory due to obsolescence Depreciation expense omitted by accident in 2019 Casualty loss Cash dividends declared Retained earnings at December 31, 2019 Effective tax rate of 20% on all items $76,800 52,800 48,000 43,200 940,800 Prepare a separate retained earnings statement for 2020. (List items that increase adjusted retained earnings first.) Presented below is information related to Bonita Corp. for the year 2020. Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue $1,248,000 748,800 62,400 46,080 19,200 6,720 Write-off of inventory due to obsolescence Depreciation expense omitted by accident in 2019 Casualty loss Cash dividends declared Retained earnings at December 31, 2019 Effective tax rate of 20% on all items $76,800 52,800 48,000 43,200 940,800 Prepare a separate retained earnings statement for 2020. (List items that increase adjusted retained earnings first.)
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Related Book For
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
Posted Date:
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