Bonita Ltd. has retained earnings of NT$679,700 at January 1, 2022. Net income during 2022 was NT$1,641,700, and cash dividends declared and paid during 2022 totaled NT$81,700. Prepare a retained earnings statement for the year ended December 31, 2022. Assume an error was discovered: Land costing NT$86,300 (net of tax) was charged to repairs expense in 2021. (List items that increase retained earnings first.)

Bonita Ltd. has retained earnings of NT$679,700 at January 1, 2022. Net income during 2022 was NT$1,641,700, and cash dividends declared and paid during 2022 totaled NT$81,700. Prepare a retained earnings statement for the year ended December 31, 2022. Assume an error was discovered: Land costing NT$86,300 (net of tax) was charged to repairs expense in 2021. (List items that increase retained earnings first.)

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter22: Accounting For Changes And Errors.

Section: Chapter Questions

Problem 10MC: Shannon Corporation began operations on January 1, 2019. Financial statements for the years ended...

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