During 2008, Mango Corporation held a portfolio of available-for-sale securities having a cost of $260,000. There were
Question:
Mango Corporation
Stockholders’ Equity
December 31, 2007
Common stock ............... $ 35,000
Paid-in capital in excess of par value ..... 350,000
Retained earnings .............. 435,000
Accumulated other comprehensive loss .... (45,000)
Total ................... $775,000
a. Prepare a statement of comprehensive income for 2008.
b. Prepare the stockholders' equity section of the balance sheet for December 31, 2008.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,... Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...
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Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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