Prepare a statement of retained earnings in proper form for White Corporation for the year ended December 31,20XX,from the following:
$\begin{array}{lr}
\text { Retained Earnings, January 1, 20xx } & \$ 5,000 \
\text { Dividends declared during the year } & 1,800 \
\text { Net income for the year } & 4,000 \
\text { Correction of prior year error. purchase } & \
\text { of land recorded as rent expense } & 500
\end{array}$

Question

Prepare a statement of retained earnings in proper form for White Corporation for the year ended December 31,20XX,from the following:
 $\begin{array}{lr}
\text { Retained Earnings, January 1, 20xx } & \$ 5,000 \
\text { Dividends declared during the year } & 1,800 \
\text { Net income for the year } & 4,000 \
\text { Correction of prior year error. purchase } & \
\text { of land recorded as rent expense } & 500
\end{array}$

Quizplus · Accepted Answer

The Answer of Prepare a statement of retained earnings in proper form for White Corporation for the year ended December 31,20XX,from the following:
 $\begin{array}{lr}
\text { Retained Earnings, January 1, 20xx } & \$ 5,000 \
\text { Dividends declared during the year } & 1,800 \
\text { Net income for the year } & 4,000 \
\text { Correction of prior year error. purchase } & \
\text { of land recorded as rent expense } & 500
\end{array}$

Prepare a Statement of Retained Earnings in Proper Form for White