XYZ Corporation reports the following information: Correction of Overstatement of depreciation expense in prior years, net...
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XYZ Corporation reports the following information: Correction of Overstatement of depreciation expense in prior years, net of tax 430,000 Dividends declared, 2020 320,000 Net income for 2020 1,000,000 Retained earnings, 1/1/2020, as reported 2,500,000 XYZ should report retained earnings,31/12/2020, of Select one: а. 3,610,000 b. 2,070,000 c. 2,750,000 d. 3,180,000 XYZ Corporation reports the following information: Correction of Overstatement of depreciation expense in prior years, net of tax 430,000 Dividends declared, 2020 320,000 Net income for 2020 1,000,000 Retained earnings, 1/1/2020, as reported 2,500,000 XYZ should report retained earnings,31/12/2020, of Select one: а. 3,610,000 b. 2,070,000 c. 2,750,000 d. 3,180,000
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Accounting Tools for Business Decision Making
ISBN: 978-1118128169
5th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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