Blossom Ltd. has retained earnings of NT$ 677,300 at January 1, 2022. Net income during 2022 was NT$ 1,598,100, and cash dividends declared and paid during 2022 totaled NT$ 75,700. Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase retained earnings first.)BLOSSOM LTDRetained Earnings Statementchoose the accounting period select an opening name NT$ enter a new taiwan dollar amountselect between addition and deduction : select an item enter a new taiwan dollar amount enter a subtotal of the two previous amountsselect between addition and deduction : select an item enter a new taiwan dollar amountselect a closing name NT$ enter a total amount

Solution:- Calculation of the retained earnings statement for the year ended December 31, 2022 as…

Answered: Blossom Ltd. has retained earnings of…

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter15: Investments And Fair Value Accounting

Section: Chapter Questions

Problem 18E

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Question

Blossom Ltd. has retained earnings of NT$ 677,300 at January 1, 2022. Net income during 2022 was NT$ 1,598,100, and cash dividends declared and paid during 2022 totaled NT$ 75,700. Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase retained earnings first.)

BLOSSOM LTD Retained Earnings Statement choose the accounting period
select an opening name	NT$ enter a new taiwan dollar amount
select between addition and deduction : select an item	enter a new taiwan dollar amount
	enter a subtotal of the two previous amounts
select between addition and deduction : select an item	enter a new taiwan dollar amount
select a closing name	NT$ enter a total amount