Homework Answers
Comprehensive income doesn't include gain on sale of discontinued operating assets and loss on operations of discontinued segment
| Net Income | 500000 | ||
| Other Comprehensive Income or Loss, net of taxes | |||
| Gain on sale of available for sale securities | 150000 | ||
| Loss on foreign currency contract translation | -50000 | ||
| Total other comprehensive income (loss) | 100000 | ||
| Total Comprehensive Income (loss) | 600000 |
Thus, fox should report 6,00,000 as comprehensive income.
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Test: Income Statement...
please i want a detailed solution and a clear hand writing thank you Question 1 Fox...
please i want a detailed solution and a clear hand writing thank
you
Question 1 Fox Stores, Inc. had sales of $1,000,000 during December, Year 9. Experience has shown that merchandise equaling 7% of sales will be returned within 30 days and an additional 3% will be returned within 90 days. The sales for Year 10 and Year 11 are $1,000,000 and $2,000,000, respectively. What amount should Fox report for net sales in its income statement for the month of...
Please send with complete solution, thank you! Divina Company provided the following information for the Problem...
Please send with complete solution, thank you!
Divina Company provided the following information for the Problem 6-15 (IFRS) 4,000,000 500,000 800,000 1,000,000 1,200,000 current year: Income from continuing operations Income from discontinued operation Unrealized gain on financial asset - FVPL Unrealized loss on equity investment - FVOCI Unrealized gain on debt investment - FVOCI Unrealized gain on futures contract designated as a cash flow hedge Translation loss on foreign operation Net remeasurement gain on defined benefit plan Loss on credit...
No hand writing please Board Company has a foreign subsidiary that began operations at the start...
No hand writing please
Board Company has a foreign subsidiary that began operations at the start of 2015 with assets of 135,000 kites (the local currency unit) and liabilities of 60,000 kites. During this initial year of operation, the subsidiary reported a profit of 29,000 kites. It distributed two dividends, each for 5,300 kites with one dividend declared on March 1 and the other on October 1. Applicable exchange rates for 1 kite follow: January 1, 2015 (start of business)...
Just need to see if #1 is correct and need #2 answered Income Statement and Statement...
Just need to see if #1 is correct and need
#2 answered
Income Statement and Statement of Retained Earnings Background: Husky Sports Inc. started its business in January 2018. At the beginning of its 2020 calendar-year accounting period, Husky, Inc. had retained earnings of $1,500,000. During 2020 (year 3 in business), Husky Sports Inc. reported income from continuing operations before taxes of $600,000. The following additional transactions occurred in 2020 but were not included in the $600,000. Assume all of...
Just need to see if #1 is correct and need #2 answered Income Statement and Statement...
Just
need to see if #1 is correct and need #2 answered
Income Statement and Statement of Retained Earnings Background: Husky Sports Inc. started its business in January 2018. At the beginning of its 2020 calendar-year accounting period, Husky, Inc. had retained earnings of $1,500,000. During 2020 (year 3 in business), Husky Sports Inc. reported income from continuing operations before taxes of $600,000. The following additional transactions occurred in 2020 but were not included in the $600,000. Assume all of...
please provide me with the detailed right answers with clear hand writing please thank you so...
please provide me with the detailed right answers with
clear hand writing please thank you so much.
[1] Draw the chemical structure of the reagents and products to prepare compound (A) starting from Benzene. This is a multistep preparation. COOH O- - - SOZH Compound (A) [2] Identify the absolute configuration of the chiral carbon atom (with an asterisk) if it is [R] or (S). Show the priorities and rotation. (The atomic numbers are H=1, C=6, N=7, O=8, CI=17] HO...
XYZ Company has the following income statement items for the year ended December 31, 2018. Prepare a multi-step comprehensive income statement for XYZ Company (remember to provide headings for subtota...
XYZ Company has the following income statement items for the year ended December 31, 2018. Prepare a multi-step comprehensive income statement for XYZ Company (remember to provide headings for subtotals) Revenues from selling office products (60% of total revenues) Selling, general, and administrative expenses Revenues from renting office space (40% of total revenues) Loss from litigation settlement with a former employee Write-off of goodwill Foreign currency translation adjustment Loss on the disposition of a wholesale division (net of tax) Sales...
check my work The following income statement items appeared on the adjusted trial balance of Schembri...
check my work The following income statement items appeared on the adjusted trial balance of Schembri Manufacturing Corporation for the year ended December 31, 2021 ($ in thousands): sales revenue, $18,900, cost of goods sold, $8,000; selling expenses, $1.480: general and administrative expenses. $980; interest revenue, $240; interest expense, $200. Income taxes have not yet been recorded. The company's income tax rate is 25% on all items of income or loss. These revenue and expense items appear in the company's...
E4.15 (LO 2,5) (Comprehensive Income) Roxanne Carter Corporation reported the following for 2020: net sales $1,200,000,...
E4.15 (LO 2,5) (Comprehensive Income) Roxanne Carter Corporation reported the following for 2020: net sales $1,200,000, cost of goods sold $750,000, selling and administrative expenses $320,000, and an unrealized holding gain on available-for-sale debt securities $18,000. Instructions Prepare a statement of comprehensive income, using (a) the one statement format, and (b) the two statement format. (Ignore income taxes and earnings per share.) E4.16 (LO 5) (Comprehensive Income) C. Reither Co. reports the following information for 2020: sales revenue $700,000, cost...
The following income statement items appeared on the adjusted trial balance of Schembri Manufacturing Corporation for...
The following income statement items appeared on the adjusted trial balance of Schembri Manufacturing Corporation for the year ended December 31, 2021 ($ in thousands): sales revenue, $17,500; cost of goods sold, $7,300; selling expenses, $1,410; general and administrative expenses, $910; interest revenue, $160; interest expense, $290. Income taxes have not yet been recorded. The company's income tax rate is 25% on all items of income or loss. These revenue and expense items appear in the company's income statement every...
please i want a detailed solution and a clear hand writing thank
you
Question 1 Fox Stores, Inc. had sales of $1,000,000 during December, Year 9. Experience has shown that merchandise equaling 7% of sales will be returned within 30 days and an additional 3% will be returned within 90 days. The sales for Year 10 and Year 11 are $1,000,000 and $2,000,000, respectively. What amount should Fox report for net sales in its income statement for the month of...
Please send with complete solution, thank you!
Divina Company provided the following information for the Problem 6-15 (IFRS) 4,000,000 500,000 800,000 1,000,000 1,200,000 current year: Income from continuing operations Income from discontinued operation Unrealized gain on financial asset - FVPL Unrealized loss on equity investment - FVOCI Unrealized gain on debt investment - FVOCI Unrealized gain on futures contract designated as a cash flow hedge Translation loss on foreign operation Net remeasurement gain on defined benefit plan Loss on credit...
No hand writing please
Board Company has a foreign subsidiary that began operations at the start of 2015 with assets of 135,000 kites (the local currency unit) and liabilities of 60,000 kites. During this initial year of operation, the subsidiary reported a profit of 29,000 kites. It distributed two dividends, each for 5,300 kites with one dividend declared on March 1 and the other on October 1. Applicable exchange rates for 1 kite follow: January 1, 2015 (start of business)...
Just need to see if #1 is correct and need
#2 answered
Income Statement and Statement of Retained Earnings Background: Husky Sports Inc. started its business in January 2018. At the beginning of its 2020 calendar-year accounting period, Husky, Inc. had retained earnings of $1,500,000. During 2020 (year 3 in business), Husky Sports Inc. reported income from continuing operations before taxes of $600,000. The following additional transactions occurred in 2020 but were not included in the $600,000. Assume all of...
Just
need to see if #1 is correct and need #2 answered
Income Statement and Statement of Retained Earnings Background: Husky Sports Inc. started its business in January 2018. At the beginning of its 2020 calendar-year accounting period, Husky, Inc. had retained earnings of $1,500,000. During 2020 (year 3 in business), Husky Sports Inc. reported income from continuing operations before taxes of $600,000. The following additional transactions occurred in 2020 but were not included in the $600,000. Assume all of...
please provide me with the detailed right answers with
clear hand writing please thank you so much.
[1] Draw the chemical structure of the reagents and products to prepare compound (A) starting from Benzene. This is a multistep preparation. COOH O- - - SOZH Compound (A) [2] Identify the absolute configuration of the chiral carbon atom (with an asterisk) if it is [R] or (S). Show the priorities and rotation. (The atomic numbers are H=1, C=6, N=7, O=8, CI=17] HO...
check my work The following income statement items appeared on the adjusted trial balance of Schembri Manufacturing Corporation for the year ended December 31, 2021 ($ in thousands): sales revenue, $18,900, cost of goods sold, $8,000; selling expenses, $1.480: general and administrative expenses. $980; interest revenue, $240; interest expense, $200. Income taxes have not yet been recorded. The company's income tax rate is 25% on all items of income or loss. These revenue and expense items appear in the company's...
E4.15 (LO 2,5) (Comprehensive Income) Roxanne Carter Corporation reported the following for 2020: net sales $1,200,000, cost of goods sold $750,000, selling and administrative expenses $320,000, and an unrealized holding gain on available-for-sale debt securities $18,000. Instructions Prepare a statement of comprehensive income, using (a) the one statement format, and (b) the two statement format. (Ignore income taxes and earnings per share.) E4.16 (LO 5) (Comprehensive Income) C. Reither Co. reports the following information for 2020: sales revenue $700,000, cost...
The following income statement items appeared on the adjusted trial balance of Schembri Manufacturing Corporation for the year ended December 31, 2021 ($ in thousands): sales revenue, $17,500; cost of goods sold, $7,300; selling expenses, $1,410; general and administrative expenses, $910; interest revenue, $160; interest expense, $290. Income taxes have not yet been recorded. The company's income tax rate is 25% on all items of income or loss. These revenue and expense items appear in the company's income statement every...
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