Business, 28.08.2020 14:01 21schraderlily
Preparing a statement of retained earnings Kelly May Bakery, Inc. reported a prior-period adjustment in 2018. An accounting error caused net income of prior years to be overstated by $1,000. Retained Earnings at December 31, 2017, as previously reported, was $48,000. Net income for 2018 was $74,000, and dividends declared were $28,000. Prepare the company’s statement of retained earnings for the year ended December 31, 2018.
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Preparing a statement of retained earnings
Kelly May Bakery, Inc. reported a prior-period adjustmen...
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