Business, 13.06.2021 03:00, brenda2512

C Co. reported a retained earnings balance of $230,000 at December 31, 2020. In September 2021, C determined that insurance premiums of $81,000 for the three-year period beginning January 1, 2020, had been paid and fully expensed in 2020. C has a 25% income tax rate. What amount should C report as adjusted beginning retained earnings in its 2021 statement of retained earnings

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C Co. reported a retained earnings balance of $230,000 at December 31, 2020. In September 2021, C de...