Trial balance Sales revenue 30000 Equipment rental revenue 840 Cost of sales 12375 Selling and administrative...
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 $ $
Whispering Corporation reported the following for 2020: net sales $1,200,400, cost of goods sold $724,400, selling and administrative expenses $330,300, and an unrealized holding gain on available-for-sale debt securities $16,000. Prepare a statement of comprehensive income using the one statement format. (Ignore income taxes and earnings per share.) Prepare a statement of comprehensive income, using the two statement format. (Ignore income taxes and earnings per share.)
The trial balance for Sunset Corporation, a manufacturing company, for the year ended December 31, year 1, included the following income accounts: Account Title Debits Credits Sales Revenue $2,450,000 Cost of Goods Sold $1,200,500 Selling and Administrative expenses $400,000 Interest Expense $45,500 Gain on debt securities $88,000 The gain on debt securities is unrealized and classified as other comprehensive income. The trial balance does not include the accrual for income taxes. Sunset’s income tax rate is 25%. There were 1,000,000 shares of common stock outstanding throughout year...
Splish Corporation reported the following for 2020: net sales $1,242,800, cost of goods sold $737,700, selling and administrative expenses $329,500, and an unrealized holding gain on available-for- sale debt securities $16,600. Prepare a statement of comprehensive income using the one statement format. (Ignore income taxes and earnings per share.) SPLISH CORPORATION Statement of Comprehensive Income Prepare a statement of comprehensive income, using the two statement format. (Ignore income taxes and earnings per share.) SPLISH CORPORATION Income Statement SPLISH CORPORATION Comprehensive...
Swifty Corporation reported the following for 2020: net sales $1,234,800, cost of goods sold $724,000, selling and administrative expenses $323,000, and an unrealized holding gain on available-for-sale debt securities $22,700. Prepare a statement of comprehensive income using the one statement format. (Ignore income taxes and earnings per share.) SWIFTY CORPORATION Statement of Comprehensive Income Prepare a statement of comprehensive income, using the two statement format. (Ignore income taxes and earnings per share.) SWIFTY CORPORATION Income Statement SWIFTY CORPORATION Comprehensive Income...
Marigold Corporation reported the following for 2020: net sales $1,231,600, cost of goods sold $721,400, selling and administrative expenses $329,500, and an unrealized holding gain on available-for-sale debt securities $24,500. Prepare a statement of comprehensive income using the one statement format. (Ignore income taxes and earnings per share.) MARIGOLD CORPORATION Statement of Comprehensive Income VI Prepare a statement of comprehensive income, using the two statement format. (Ignore income taxes and earnings per share.) MARIGOLD CORPORATION Income Statement MARIGOLD CORPORATION Comprehensive...
$3,300 2,700 12,800 89,700 Cost of Goods Sold, Income Statement, and Statement of Comprehensive Income Gaskin Company derives the following items from its adjusted trial balance as of December 31, 2019: Sales $142,000 Interest revenue Purchases returns 5,200 Purchases discounts taken Gain on sale of equipment (pretax) 3,800 Inventory, January 1, 2019 Freight-in 3,400 Purchases Selling expenses 15,600 Administrative expenses Unrealized increase in fair value of Loss from truck accident (pretax) 2,400 available-for-sale securities The following additional information is also...
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.
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.