On january 1 2014 eddy corporation had retained earnings of, Ask an Expert

Accounting

On January 1, 2014, Eddy Corporation had retained earnings of $545,310. During the year, Eddy had the following selected transactions.

1. Declared cash dividends $120,710.

2. Corrected overstatement of 2013 net income because of depreciation error $42,350.

3. Earned net income $348,650.

4. Declared stock dividends $63,260.

Prepare a retained earnings statement for the year. (List items that increase retained earnings first)

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91975419

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