(p) In 2022, Squatina discovered that they understated revenue by $171,000 in 2021. Beginning retained earning...
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(p) In 2022, Squatina discovered that they understated revenue by $171,000 in 2021. Beginning retained earning for 2022 was $2,134,000, based on the value reported in the 2021 Statement of Retained Earnings. If the company reported net income of $854,000 and declared dividends of $188,000 in 2022, what will Squatina report as their ending retained earnings balance on their 2022 Statement of Retained Earnings? (AC 26) (p) In 2022, Squatina discovered that they understated revenue by $171,000 in 2021. Beginning retained earning for 2022 was $2,134,000, based on the value reported in the 2021 Statement of Retained Earnings. If the company reported net income of $854,000 and declared dividends of $188,000 in 2022, what will Squatina report as their ending retained earnings balance on their 2022 Statement of Retained Earnings? (AC 26)
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Related Book For
Statistics For Business And Economics
ISBN: 9780134506593
13th Edition
Authors: James T. McClave, P. George Benson, Terry Sincich
Posted Date:
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