Question: please if you can help me to solve this question with more details ASAP Karim Company prepared the statement of retained earnings at the end
please if you can help me to solve this question with more details ASAP
Karim Company prepared the statement of retained earnings at the end of the each year. On 31/12/2018 the accountant maid a calculation error which overstated the ending balance of 2018 by $12,000. At the end of 2019 while preparing the retained earnings he discovered his error.
Instruction: Prepare Retained Earnings Statement at the end of the current year if the net income was $20,000; dividends $5,000 and the beginning balance of retained earnings was $20,000.
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