For the year ended December 31, 2017, Transformers Inc. reported the following: Net income $300,000 Preferred dividends declared 50,000 Common dividend declared 10,000 Unrealized holding loss, net of tax 5,000 Retained earnings 400,000 Common stock 200,000 Accumulated Other Comprehensive Income, Beginning Balance 25,000
What would Transformers report as its ending balance of Accumulated Other Comprehensive Income? a. $30,000 b. $25,000 c. $20,000 d. $5,000
Answer: The correct answer is C i.e. $20,000
Beginning Balance of other comprehensive Income = $25,000
Unrealized holding loss, net of tax = $5,000
Ending Balance of Accumulated other comprehensive Income =
Beginning Balance - Unrealized holding loss, net of tax
Ending Balance of Accumulated other comprehensive Income = $25,000
- $5,000
Ending Balance of Accumulated other comprehensive Income =
$20,000
For the year ended December 31, 2017, Transformers Inc. reported the following: Net income $300,000 Preferred...
89. For the year ended December 31, 2017, Transformers Inc. reported the following: Net income $300,000 Preferred dividends declared 50,000 Common dividend declared 10,000 Unrealized holding loss, net of tax 5,000 Retained earnings, beginning balance 400,000 Common stock 200,000 Accumulated Other Comprehensive Income, Beginning Balance 25,000 What would Transformers report as total stockholders' equity? a. $860,000 b. $840,000 c. $640,000 d. $600,000
For the year ended December 31, 2020, Buffalo Inc. reported the following: Net income $300,000 Preferred dividends declared 50,000 Common dividend declared 10,000 Unrealized holding loss, net of tax 5,000 Retained earnings, beginning balance 400,000 Common stock 200,000 Accumulated Other Comprehensive Income, Beginning Balance 25,000 What would Buffalo report as the ending balance of Retained Earnings? O $695,000 $665,000 $635,000 $640,000
For the year ended December 31, 2017, ABC Inc. reported the following: Net income $400,000 Common share dividend declared 20,000 Unrealized holding loss, net of tax 10,000 Retained earnings, beginning balance (unadjusted) 900,000 Common stock 200,000 Prior period adjustment (net of tax), Jan. 1, 2020 225,000 Accumulated Other Comprehensive Income, Beginning Balance 30,000 1) Prepare the statement of retained earnings for year ended december 31, 2017 2) Determine ABC Inc comprehensive income for the year ended december 31, 2017
plz help QUESTION 1 Blue Baker Company reported the following information for 2020: Net income Preferred dividends declared Common dividend declared Unrealized holding loss, net of tax Retained earnings Common stock Accumulated Other Comprehensive Income, Beginning Balance $300,000 50,000 10,000 5,000 400,000 200,000 25,000 For 2020, Blue Baker would report its ending balance of Accumulated Other Comprehensive Income of O A. $30,000 OB. $25,000 O C. $20,000 O D. $5,000
Question text For the year ended December 31, 2020, Transformers Inc. reported the following: Net income $200,000 Preferred dividends declared 40,000 Unrealized holding loss, net of tax 2,000 Gain on foreign currency exchange, net of tax 5,000 Retained earnings 400,000 Accumulated Other Comprehensive Income, Beginning Balance 20,000 What would Transformers report as its ending balance of Accumulated Other Comprehensive Income? Select one: a. $23,000 b. $18,000 c. $220,000 d. $20,000 please explain how to solve problem. thank you
QUESTION 22 For the year ended December 31, 2020, Transformers Inc. reported the following: Net income $300,000 Dividends declared 60,000 Additional paid-in capital 10,000 Unearned revenue 5,000 Retained earnings, beginning balance 400,000 Common stock 200,000 Accumulated Other Comprehensive Income, Beginning Balance 25,000 What would Transformers report as the ending balance of Retained Earnings? $695,000 $665,000 $640,000 $645,000
For the year ended December 31, 2017, Game Inc. reported the following. A) What would Game report as the ending balance of retained earnings? B) Show how the Stockholders' Equity section of the balance sheet should look like. Net income $30,000 Preferred dividends declared $5,000 Common dividend declared $1,000 Unrealized holding loss, net of tax $500 Retained earnings, beginning balance $40,000 Common stock $20,000 Accumulated other comprehensive income, beginning balance $3,000
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
Another topic this week is comprehensive income. Again, please review this week's lesson and attempt this exercise: For the year ended December 31, 201X, Howdy Inc. reported the following. What would Howdy report as the ending balance of retained earnings? Show how the Stockholders' Equity section of the balance sheet should look like. Net income $30,000 Preferred dividends declared $5,000 Common dividend declared $1,000 Unrealized holding loss, net of tax $500 Retained earnings, beginning balance $40,000 Common stock $20,000 Accumulated...
estion 16 the year ended December 31, 2017, Wildhorse Co. reported the following: $291000 50300 9900 t income eferred dividends declared mmon dividend declared realized holding loss, net of tax etained earnings, beginning balance common stock ccumulated Other Comprehensive Income, eginning Balance 4500 389000 201100 25000 What would Wildhorse report as the ending balance of Retained Earnings? O $675500 $644100 O $619800 $615300 Click if you would like to Show Work for this question: Open Show Work