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Compute the retained earnings balance on September

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Reference no: EM132794533

Question - The following information pertains to Rudolph Corp. for the year ended September 30, 2022.

Net Income P 75,000

Retained Earnings, October 1, 2021 860,000

Cash dividends declared 16,400

A 2 for 1 split was declared, value of Ordinary Share Capital 200,000

Understatement of depreciation expense of 2018 and 2019-pretax 62,000

Tax rate 30%

Required - Compute the retained earnings balance on September 30, 2022.

Reference no: EM132794533

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