Question

Multiple Choice Question 89 For the year ended December 31, 2017, Cullumber Company reported the following: Net Income $286200 Preferred dividends declared 48000 Common dividend declared 10400 Unrealized holding loss, net of tax 4500 Retained earnings, beginning balance 401000 Common stock 199200 Accumulated Other Comprehensive Income, Beginning Balance 24300 What would Cullumber report as total stockholders' equity? $628800 $600200 $847800 $828000 Click if you would like to show Work for this question: Open Show Work

Answer 1

Refer below image for above mentioned question, in a detailed way of solution. Therefore cullumber report $ 847800 as total stock holders equity.

Solution :- ( yen Net income = 9286200 preferred dividends declared = $ 48000 common dividend a declared declared = 1 10400 Un realized holding loss (net of Tax) = 4 4500 Retained earrings - opening balance - 4401000 common Stock - 9199200 Accomulated other comprehensive & & 24300 income - opening balance * Computation of Collomber's total Stock holder's equity : particulars Amount Add: less Less Retained earnings - opening balance Net income during the year preferred dividends declared Common dividend declared $ 40100 4286200 $(48000) $[10400 $628800 Add: Common Stock $ 199 200 $ 828000 Add: $ 24300 Accomolated other comprehensive income - opening balance unrealized holding loss (net of tax) ress: & [4500 Total Stockholder's equity $ 847 800 Note point : Less items indicated by "[]". as total stockholder's . report $847800 collomber equity.