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Jethroe co. reported a retained earnings balance of $200,000 at december 1, year 4. in june year 5, jethroe discovered that merchandise costing $50,000 had not been included in inventory in its year 4 financial statements. jethroe has a 21% tax rate. what amount should jethroe report as adjusted beginning retained earnings in its statement of retained earnings at december 31, year 5?
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Jethroe co. reported a retained earnings balance of $200,000 at december 1, year 4. in june year 5,...
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