ANSWER:
income before income taxes | $306000 |
---|---|
less: current income taxes ($306000 x 29%) | ($88740) |
net income | $217260 |
other comprehensive income net of tax | |
unrealized gain on available for sale securities ($91900 x 71%) | $65249 |
TOTAL COMPREHENSIVE INCOME | $282509 |
10.000 and n eed no e for securities for the r a in on Brief Exercise...
An inexperienced accountant for Silva Corporation showed the following in the income statement: income before income taxes $400,000 and unrealized gain on available for-sale securities (before taxes) $70,000. The unrealized gain on available-for-sale securities and income before income taxes are both subject to a 30% tax rate. Prepare a correct statement of comprehensive income.
all of 18.2 please
BE18.2 (LO 1) Financial Statement An inexperienced accountant for Silva Corporation showed the following in the income statement: income before income taxes $450,000 and unrealized gain on available-for-sale securities (before taxes) $70,000. The unrealized gain on available- for-sale securities and income before income taxes are both subject to a 25% tax rate. Prepare a correct statement of comprehensive income. Prepare statement of comprehensive income including unusual items.
CALCULATOR FULL SCREEN PRINTER VERSION BACK N Exercise 18-02 Trayer Corporation has income from continuing operations of $266,000 for the year ended December 31, 2020. It also has the following items (before considering income taxes). 1. 2. An unrealized loss of $76,000 on available-for-sale securities. A gain of $35,000 on the discontinuance of a division (comprised of a $12,000 loss from operations and a $47.000 gain on disposal). Assume all items are subject to income taxes at a 15% tax...
Exercise 9-2 Bramble Corp. has income from continuing operations of $236,000 for the year ended December 31, 2017, It also has the following items (before considering income taxes) 1. An unrealized loss of $75,100 on available-for-sale securities. 2. A gain of $25,100 on the discontinuance of a division (comprised of a丰5,900 loss from operations and a丰31,000 gain on disposal) 3. A correction of an error in last year's financial statements that resulted in a $20,000 understatement of 2016 net income...
Brief Exercise 208 Dos Amugus Company has income from continuing operations of $621,000 (after tax) for the year ended December 31, 2017. It also has the following items (before considering income taxes): (1) An unrealized loss of $120,000 available-for-sale-securities. (2) A gain of $60,000 on the discontinuance of a major component. (3) A cumulative effect of a change in accounting principle that resulted in an increase in prior years' depreciation of $50,000. Assume all items are subject to income taxes...
Trayer Corporation has income from continuing operations of $325,000 for the year ended December 31, 2017. It also has the following items (before considering income taxes). 1. An unrealized loss of $70,900 on available for sale securities. Again of $23,200 on the discontinuance of a division (comprised of a $7,500 loss from operations and a $30,700 gain on disposal). 3. A correction of an error in last year's financial statements that resulted in a $20,000 understatement of 2016 net income....
Exercise 9-2 Trayer Corporation has income from continuing operations of $290,000 for the year ended December 31, 2017. It also has the following items (before considering income taxes). 1. An unrealized loss of $80,000 on available-for-sale securities. A gain of $30,000 on the discontinuance of a division (comprised of a $10,000 loss from operations and a $40,000 gain on disposal). A correction of an error in last year's financial statements that resulted in a $20,000 understatement of 2016 net income....
1. 2. Trayer Corporation has income from continuing operations of $278,000 for the year ended December 31, 2020. It also has the following items (before considering income taxes). An unrealized loss of $74,000 on available for sale securities. A gain of $25,000 on the discontinuance of a division (comprised of a $19,000 loss from operations and a 544,000 gain on disposal). Assume all items are subject to income taxes at a 15% tax rate. Prepare a statement of comprehensive income,...
Exercise 18-02 Trayer Corporation has income from continuing operations of $256,000 for the year ended December 31, 2020. It also has the following items (before considering income taxes). 1. An unrealized loss of $86,000 on available-for-sale securities. 2. A gain of $32,000 on the discontinuance of a division (comprised of a $18,000 loss from operations and a $50,000 gain on disposal). Assume all items are subject to income taxes at a 25% tax rate. Prepare a statement of comprehensive income,...
CALCULATOR AL SORTEN PRINTER VERSTON BLACK NEXT Exercise 4-17 The following information was taken from the records of Martinez Inc. for the year 2017: Income tax applicable to income from continuing operations $194,310; income tax applicable to lesson discontinued operations $28,628, and unrealized holding gain on available for sale securities (net of tax) $16,900. Gain on sale of equipment Loss on discontinued operations Administrative expenses Rent revenue Loss on write down of inventory $98,700 84,200 243,600 46,600 62,900 Cash dividends...