At January 1, 2022, Cheng Ltd. reported retained earnings of 20,000,000. In 2022, Cheng discovered that 2021
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At January 1, 2022, Cheng Ltd. reported retained earnings of ¥20,000,000. In 2022, Cheng discovered that 2021 depreciation expense was understated by ¥4,000,000. In 2022, net income was ¥9,000,000 and dividends declared were ¥2,500,000. The tax rate is 40%. Prepare a 2022 retained earnings statement for Cheng Ltd.
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Related Book For 
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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