Tuscan Inc. had a retained earnings balance of $90,000 at December 31, 2018. During the year, Tuscan had the following selected transactions. Reported net income of $130,000. Revised an estimate of a machine’s salvage value. Depreciation increased by $4,000 per year. An error was discovered. Three years ago, a purchase of a building was incorrectly expensed. The effect is understated retained earnings of $42,000 (net of tax benefit). Paid cash dividends of $63,000. Calculate the retained earnings balance at December 31, 2019. (Amounts to be deducted should be indicated with a minus sign.)

Acompany recorded a check in its accounting records as $87. however, the check was actually written for $78 and it cleared the bank as $78. what adjustment is needed to the personal statement? a. decrease by $9 b. increase by $9 c. decrease by $18 d. increase by $9

Asmall company has 10,000 shares. joan owns 200 of these shares. the company decided to split its shares. what is joan's ownership percentage after the split

The following data were taken from the records of clarkson company for the fiscal year ended june 30, 2017. raw materials inventory 7/1/16 $58,100 factory insurance $4,800 raw materials inventory 6/30/17 46,600 factory machinery depreciation 17,100 finished goods inventory 7/1/16 99,700 factory utilities 29,400 finished goods inventory 6/30/17 21,900 office utilities expense 9,350 work in process inventory 7/1/16 21,200 sales revenue 560,500 work in process inventory 6/30/17 29,400 sales discounts 4,700 direct labor 147,550 plant manager’s salary 63,400 indirect labor 25,360 factory property taxes 9,910 accounts receivable 28,000 factory repairs 2,500 raw materials purchases 97,300 cash 39,200 a) prepare a cost of goods manufactured schedule (assume all raw materials used were direct materials). b) prepare an income statement through gross profit c)prepare the current assets section of the balance sheet at june 30, 2014