Business
Business, 25.07.2019 13:00, trin520

Prior period adjustments are reported as an adjustment to which account?

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Business, 06.08.2019 23:20, jc06gomez
May bakery, inc. reported a prior-period adjustment in 2018. an accounting error caused net income of prior years to be overstated by $ 6 comma 000. retained earnings at december 31, 2017, as previously reported, was $ 45 comma 000. net income for 2018 was $ 71 comma 000, and dividends declared were $ 30 comma 000. prepare the company's statement of retained earnings for the year ended december 31, 2018. enter any current period increases in retained earnings prior to the subtotal, and enter any current period decreases to retained earnings below the subtotal. susan may bakery, inc. statement of retained earnings year ended december 31, 2018
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Business, 17.09.2019 06:30, chrisspa13
Acompany made an error in calculating and reporting amortization expense in 2015. the error was discovered in 2016. the item should be reported as a prior period adjustment:
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Business, 12.11.2019 01:31, antmaan15
Blackhorse productions, inc. used the aging of accounts receivable method to estimate that its allowance for doubtful accounts should be $19,350. the account had an unadjusted credit balance of $10,000 at that time.required: prepare journal entries for each of the following. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)a)the appropriate bad debt adjustment was recorded.b)later, an account receivable for $1,000 was determined to be uncollectible and was written off.record the end-of-period adjustment for bad debts under the aging of accounts receivable method.record the write-off of a certain customer account from a prior year which is not collectible totaling $1,000.
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Business, 21.11.2019 21:31, joey4843
Kasper company includes three years in the statement of shareholders’ equity in its annual report. during year 4, management corrected an error that had understated the net income reported in year 1 by $10,000. how should kasper reflect the correction of this error in the statement of shareholders’ equity included in its year 4 annual report? (a) a change in reporting entity should be reported in year 4 (b) a prtor perlod adjustment to the beginning-of the-year retsined earnings balance shouild be reported in the year 2 amount (c) a prior pertod adjuctmant to the beginning-cf the-year rerained earnings balance shouid be repoted in the year 3 amoun (d) a prior period adjustment to the beginning-of the-year retained oarnings balance shouid be reported in the year 4 amount
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