Question: please explain how you got the answer - thanks The following information is from Amos Company for the year ended December 31, 2019. a. Retained

please explain how you got the answer - thanks

please explain how you got the answer - thanks The following

The following information is from Amos Company for the year ended December 31, 2019. a. Retained earnings at December 31, 2018 (before discovery of error), $855,000. b. Cash dividends declared and paid during the year, $12,000. c. Two years ago, it forgot to record depreciation expense of $53,600 (net of tax benefit). d. The company earned $217,000 in net income this year. Prepare a statement of retained earnings for Amos Company. (Amounts to be deducted should be indicated with a minus sign.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

The following information was available for the year ended December 31, 2019: 4 Earnings before interest and taxes (operating income) Interest expense Income tax expense Net income Total assets at...

Worksheet for Service Company Whitaker Consulting Company has prepared a trial balance on the following partially completed worksheet for the year ended December 31, 2019: Retained Trial Income...

please help! thank you! The following information was available for the year ended December 31, 2019. Sales Net income Average total assets Average total stockholders' equity Dividends per share...

Now, give some comment regarding the difference(s) in the provided area ILLUSTRATION 4.23 Statement of Changes in Equity GILL SPA STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED DECEMBER 31, 2019...

Net sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average inventory for the year Inventory at year-end $1,003,750 638,750 42,700 23,400 206,000...

Whitaker Consulting Company has prepared a trial balance on the following partially completed worksheet for the year ended December 31, 2019: Retained Trial Income Earnings Balance Balance...

The following information was available for the year ended December 31, 2019: 3 1.66 points Sales Net income Average total assets Average total stockholders' equity Dividends per share Earnings per...

9 The following information was available for the year ended December 31, 2019: 1 points Sales Net income Average total assets Average total stockholders' equity Dividends per share Earnings per...

The following information was available for the year ended December 31, 2019: Sales Net income Average total assets Average total stockholders' equity Dividends per share Earnings per share Market...

What is the argument for finite uniformity in accounting for leases? Why is finite uniformity difficult to achieve? Explain what the relevant circumstances are in accounting for different types of...

sin2(x) 2. If f(x) x show that the single-point method for solving f (x) = 0 will 2 converge.

For the year 2 0 2 0 , $ 1 1 , 5 8 0 , 0 0 0 is the: Aggregate lifetime exemption from gift tax for annual exdusion of gits. The GSTT aggregate lifetime exemption. Maximum marikal deduction for non -...

In 2018, Starbucks stock way underperformed the market versus in 2019 where it outperformed. In fiscal 2018, its profits were significantly higher than 2019. Give at least two specific reasons why...