Blossom Company reported the following information for 2017: Sales revenue $2530000 Cost of goods sold 1747000...
Blossom Company reported the following information for 2017:
Sales revenue $2530000
Cost of goods sold 1747000
Operating expenses 275000
Unrealized holding gain on available-for-sale securities 84800
Cash dividends received on the securities 10200
For 2017, Blossom would report comprehensive income of
A)$592800.
B)$603000.
C)$518200.
D)$84800.
Homework Answers
| Answer | |
| The correct option is B : $603,000 | |
| Explanation | |
| Calculate comprehensive income | |
| Revenue | $ 2,530,000 |
| Cost of goods sold | -$ 1,747,000 |
| Operating expense | -$ 275,000 |
| Operating income | $ 508,000 |
| Other revenue | $ 10,200 |
| Net income | $ 518,200 |
| Unrealized gain on available for securities | $ 84,800 |
| Comprehensive income | $ 603,000 |
| So answer is B) $603,000 | |
Add Answer to:
Blossom Company reported the following information for 2017:
Sales revenue $2530000
Cost of goods sold 1747000...
18. Korte Company reported the following information for 2015: Sales revenue Cost of goods sold Operating...
18. Korte Company reported the following information for 2015: Sales revenue Cost of goods sold Operating expenses Unrealized holding gain on available-for-sale securities Cash dividends received on the securities $500,000 350,00O 55,000 25,000 2,000 For 2015, Korte would report comprehensive income of A. $122,000. B. $120,o00. C. $97,0oo. D. $25,0oo.
Wildhorse Co. reported the following information for 2020: Sales revenue Cost of goods sold Operating expenses...
Wildhorse Co. reported the following information for 2020: Sales revenue Cost of goods sold Operating expenses Unrealized holding gain on available-for-sale securities Cash dividends received on the securities $2038000 1410000 220000 120200 8800 For 2020, Wildhorse would report other comprehensive income of O $129000. O $416800. O $408000. O $120200
Testbank Multiple Choice Question 85 Crane Company reported the following information for 2020: Sales revenue $2043000...
Testbank Multiple Choice Question 85
Crane Company reported the following information for
2020:
Sales revenue
$2043000
Cost of goods sold
1411000
Operating expenses
228000
Unrealized holding gain on
available-for-sale securities
118000
Cash dividends received on the
securities
7500
For 2020, Crane would report other comprehensive income of
a.
$118000.
b.
$411500.
c.
$404000.
d.
$125500.
1-Cullumber Company reported the following information for 2020: Sales revenue $2055000 Cost of goods sold 1407000...
1-Cullumber Company reported the following information for
2020:
Sales revenue
$2055000
Cost of goods sold
1407000
Operating expenses
230000
Unrealized holding gain on
available-for-sale securities
121600
Cash dividends received on the
securities
8400
For 2020, Cullumber would report other comprehensive income
of
$418000.
$130000.
$121600.
$426400.
2-Wildhorse Co. reports the following information:
Correction of overstatement of
depreciation expense
in prior years,
net of tax
$ 643000
Dividends declared
482000
Net income
1504000
Retained earnings, 1/1/20, as
reported
5830000
Wildhorse should...
Blossom Co. reports the following information for 2020: sales revenue $751,300, cost of goods sold $529,700,...
Blossom Co. reports the following information for 2020: sales revenue $751,300, cost of goods sold $529,700, operating expenses $82,200, and an unrealized holding loss on available-for-sale debt securities for 2020 of $59,200. It declared and paid a cash dividend of $11,080 in 2020. Blossom Co. has January 1, 2020, balances in common stock $353,600; accumulated other comprehensive income $89,000; and retained earnings $91,130. It issued no stock during 2020. (Ignore income taxes.) Prepare a statement of stockholders' equity. BLOSSOM CO....
Exercise 4-15 Ayayai Corporation reported the following for 2017: net sales $1,207,600, cost of goods sold...
Exercise 4-15 Ayayai Corporation reported the following for 2017: net sales $1,207,600, cost of goods sold $737,300, selling and administrative expenses $329,300, and an unrealized holding gain on available-for-sale securities $21,000. Prepare a statement of comprehensive income using one statement format.
Exercise 4-16 Waterway Co. reports the following information for 2017: sales revenue $767,500, cost of goods sold $505,0...
Exercise 4-16
Waterway Co. reports the following information for 2017: sales
revenue $767,500, cost of goods sold $505,000, operating expenses
$84,800, and an unrealized holding loss on available-for-sale
securities for 2017 of $52,000. It declared and paid a cash
dividend of $12,650 in 2017.
Waterway Co. has January 1, 2017, balances in common stock
$360,700; accumulated other comprehensive income $86,400; and
retained earnings $91,890. It issued no stock during 2017.
Prepare a statement of stockholders’ equity.
WATERWAY CO. Statement of...
Wildhorse Corporation reported the following for 2020: net sales $1,244,400, cost of goods sold $739,000, selling...
Wildhorse Corporation reported the following for 2020: net sales
$1,244,400, cost of goods sold $739,000, selling and administrative
expenses $339,400, and an unrealized holding gain on
available-for-sale debt securities $18,800.
Prepare a statement of comprehensive income using the one
statement format.
Prepare a statement of comprehensive income, using the two
statement format.
Metlock Corporation reported the following for 2020: net sales $1,236,500, cost of goods sold $729,000, selling...
Metlock Corporation reported the following for 2020: net sales $1,236,500, cost of goods sold $729,000, selling and administrative expenses $329,900, and an unrealized holding gain on available-for-sale debt securities $20,700. (a) Prepare a statement of comprehensive income using the one statement format. (Ignore income taxes and earnings per share.) METLOCK CORPORATION Statement of Comprehensive Income $ $
Szuba Corporation reported the following transactions for the current year: Sales $500,000 Cost of goods sold...
Szuba Corporation reported the following transactions for the current year: Sales $500,000 Cost of goods sold 300,000 Operating expenses 100,000 Cash dividend 50,000 Unrealized gain on available-for-sale security 10,000 Unrealized gain on trading security 20,000 Ignoring income taxes, Szuba should report other comprehensive income of: $10,000 Your answer is correct. B. $80,000 C. $60,000 D. $30,000
18. Korte Company reported the following information for 2015: Sales revenue Cost of goods sold Operating expenses Unrealized holding gain on available-for-sale securities Cash dividends received on the securities $500,000 350,00O 55,000 25,000 2,000 For 2015, Korte would report comprehensive income of A. $122,000. B. $120,o00. C. $97,0oo. D. $25,0oo.
Wildhorse Co. reported the following information for 2020: Sales revenue Cost of goods sold Operating expenses Unrealized holding gain on available-for-sale securities Cash dividends received on the securities $2038000 1410000 220000 120200 8800 For 2020, Wildhorse would report other comprehensive income of O $129000. O $416800. O $408000. O $120200
Testbank Multiple Choice Question 85
Crane Company reported the following information for
2020:
Sales revenue
$2043000
Cost of goods sold
1411000
Operating expenses
228000
Unrealized holding gain on
available-for-sale securities
118000
Cash dividends received on the
securities
7500
For 2020, Crane would report other comprehensive income of
a.
$118000.
b.
$411500.
c.
$404000.
d.
$125500.
1-Cullumber Company reported the following information for
2020:
Sales revenue
$2055000
Cost of goods sold
1407000
Operating expenses
230000
Unrealized holding gain on
available-for-sale securities
121600
Cash dividends received on the
securities
8400
For 2020, Cullumber would report other comprehensive income
of
$418000.
$130000.
$121600.
$426400.
2-Wildhorse Co. reports the following information:
Correction of overstatement of
depreciation expense
in prior years,
net of tax
$ 643000
Dividends declared
482000
Net income
1504000
Retained earnings, 1/1/20, as
reported
5830000
Wildhorse should...
Blossom Co. reports the following information for 2020: sales revenue $751,300, cost of goods sold $529,700, operating expenses $82,200, and an unrealized holding loss on available-for-sale debt securities for 2020 of $59,200. It declared and paid a cash dividend of $11,080 in 2020. Blossom Co. has January 1, 2020, balances in common stock $353,600; accumulated other comprehensive income $89,000; and retained earnings $91,130. It issued no stock during 2020. (Ignore income taxes.) Prepare a statement of stockholders' equity. BLOSSOM CO....
Exercise 4-16
Waterway Co. reports the following information for 2017: sales
revenue $767,500, cost of goods sold $505,000, operating expenses
$84,800, and an unrealized holding loss on available-for-sale
securities for 2017 of $52,000. It declared and paid a cash
dividend of $12,650 in 2017.
Waterway Co. has January 1, 2017, balances in common stock
$360,700; accumulated other comprehensive income $86,400; and
retained earnings $91,890. It issued no stock during 2017.
Prepare a statement of stockholders’ equity.
WATERWAY CO. Statement of...
Wildhorse Corporation reported the following for 2020: net sales
$1,244,400, cost of goods sold $739,000, selling and administrative
expenses $339,400, and an unrealized holding gain on
available-for-sale debt securities $18,800.
Prepare a statement of comprehensive income using the one
statement format.
Prepare a statement of comprehensive income, using the two
statement format.
Metlock Corporation reported the following for 2020: net sales $1,236,500, cost of goods sold $729,000, selling and administrative expenses $329,900, and an unrealized holding gain on available-for-sale debt securities $20,700. (a) Prepare a statement of comprehensive income using the one statement format. (Ignore income taxes and earnings per share.) METLOCK CORPORATION Statement of Comprehensive Income $ $
Most questions answered within 3 hours.
-
You follow the lab procedure and at the end of Part 4C, you used
an average...
asked 9 minutes ago -
Write 250-450 words, about the following: • Analyze how a
servant leader in your organization or...
asked 13 minutes ago -
3. American and Japanese workers can each produce 4 cars a
year. An American worker can...
asked 16 minutes ago -
On October 1, 20X1, a company purchased a piece of land by
agreeing to pay the...
asked 28 minutes ago -
Jamie is doing a survey at her school about whether the students
feel the cafeteria food...
asked 33 minutes ago -
What are the roles of 3' and 5' untranslated regions in
mRNAs?
asked 34 minutes ago -
A domestic television receives antenna delivers a sky noise
power of -105 dBm to a matched...
asked 33 minutes ago -
What do you think are the chemical reactions involved in the
breathalyzer tests administered to potentially...
asked 48 minutes ago -
A random sample of 120 observations produces a mean of
38.2 from a population with a...
asked 55 minutes ago -
The average area of land burned by forest fires every year in
Canada is 2.5 million...
asked 57 minutes ago -
36. The basic difference between government bureaus and market
firms is that bureaus:
a. can...
asked 57 minutes ago -
java
- A recursive method findR() to search for a number in list
(ArrayList)
- A...
asked 1 hour ago