The following information is available for Grey Goose Inc.: $$\begin{array} { l r }
\text { Beginning retained earnings } & \$ 600,000 \
\text { Cash dividends declared } & 60,000 \
\text { Net income for } 2017 & 120,000 \
\text { Stock dividend declared } & 15,000 \
\text { Understatement of last year's depreciation expense } & 30,000
\end{array}$$ Instructions
Based on the preceding information prepare a retained earnings statement for 2017.

Question

The following information is available for Grey Goose Inc.: $$\begin{array} { l r } 
\text { Beginning retained earnings } & \$ 600,000 \
\text { Cash dividends declared } & 60,000 \
\text { Net income for } 2017 & 120,000 \
\text { Stock dividend declared } & 15,000 \
\text { Understatement of last year's depreciation expense } & 30,000
\end{array}$$ Instructions
Based on the preceding information prepare a retained earnings statement for 2017.

Quizplus · Accepted Answer

The Answer of The following information is available for Grey Goose Inc.: $$\begin{array} { l r } 
\text { Beginning retained earnings } & \$ 600,000 \
\text { Cash dividends declared } & 60,000 \
\text { Net income for } 2017 & 120,000 \
\text { Stock dividend declared } & 15,000 \
\text { Understatement of last year's depreciation expense } & 30,000
\end{array}$$ Instructions
Based on the preceding information prepare a retained earnings statement for 2017.

The Following Information Is Available for Grey Goose Inc Instructions Based on the Preceding Information Prepare a Retained Earnings

The Following Information Is Available for Grey Goose Inc Instructions
Based on the Preceding Information Prepare a Retained Earnings