On December 31, 2013, Opgenorth Company listed the following items in its adjusted trial balance: Additional data:

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On December 31, 2013, Opgenorth Company listed the following items in its adjusted trial balance:

On December 31, 2013, Opgenorth Company listed the following items

Additional data:
1. Seven thousand shares of common stock have been outstanding the entire year.
2. The income tax rate is 30% on all items of income.
Required:
1. Prepare a 2013 multiple-step income statement.
2. Prepare a 2013 single-step income statement.
3. Prepare a 2013 statement of comprehensive income.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Related Book For  book-img-for-question

Intermediate Accounting Reporting and Analysis

ISBN: 978-1111822361

1st edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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