subject
Business, 20.08.2020 15:01 jetblackcap

Gardiner, Inc. reported a retained earnings balance of $190,000 at December 31, 2024. In June 2025, Gardiner discovered that merchandise costing $20,000 had not been included as ending inventory in its 2024 financial statements. Also, a $50,000 accrued revenue was omitted on 12/31/24. Gardiner has a 20% tax rate. Assuming the correcting journal entry net of tax was recorded, what amount should Gardiner report as adjusted beginning retained earnings in its statement of retained earnings for year ended December 31, 2025?

ansver
Answers: 3

Another question on Business

question
Business, 21.06.2019 17:00
Herman is covered by a cafeteria plan by his employer. his adjusted gross income (agi) is $100,000. he paid unreimbursed medical premiums in the amount of $10,500 and he itemizes deductions. what amount will herman be able to deduct for his medical insurance premium expenses?
Answers: 1
question
Business, 22.06.2019 11:50
Stocks a, b, and c are similar in some respects: each has an expected return of 10% and a standard deviation of 25%. stocks a and b have returns that are independent of one another; i.e., their correlation coefficient, r, equals zero. stocks a and c have returns that are negatively correlated with one another; i.e., r is less than 0. portfolio ab is a portfolio with half of its money invested in stock a and half in stock b. portfolio ac is a portfolio with half of its money invested in stock a and half invested in stock c. which of the following statements is correct? a. portfolio ab has a standard deviation that is greater than 25%.b. portfolio ac has an expected return that is less than 10%.c. portfolio ac has a standard deviation that is less than 25%.d. portfolio ab has a standard deviation that is equal to 25%.e. portfolio ac has an expected return that is greater than 25%.
Answers: 3
question
Business, 22.06.2019 14:50
Ann chovies, owner of the perfect pasta pizza parlor, uses 20 pounds of pepperoni each day in preparing pizzas. order costs for pepperoni are $10.00 per order, and carrying costs are 4 cents per pound per day. lead time for each order is three days, and the pepperoni itself costs $3.00 per pound. if she were to order 80 pounds of pepperoni at a time, what would be the average inventory level?
Answers: 3
question
Business, 22.06.2019 16:50
In terms of the "great wheel of science", statistics are central to the research process (a) only between the hypothesis phase and the observation phase (b) only between the observation phase and the empirical generalization phase (c) only between the theory phase and the hypothesis phase (d) only between the empirical generalization phase and the theory phase
Answers: 1
You know the right answer?
Gardiner, Inc. reported a retained earnings balance of $190,000 at December 31, 2024. In June 2025,...
Questions
Questions on the website: 13722361