Fastco Corp. reports net income of ($ 20,000), and other comprehensive income of ($ 5,000) (net of

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Fastco Corp. reports net income of \(\$ 20,000\), and other comprehensive income of \(\$ 5,000\) (net of tax) for the year ended December 31, 2020. The December 31, 2019, balance in accumulated other comprehensive income is \(\$ 18.000\) (credit balance) and the balance in retained earnings is \(\$ 100,000\) (credit balance). What is the ending balance in accumulated other comprehensive income on December 31, 2020?

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Intermediate Accounting Volume 2

ISBN: 9781618533135

2nd Edition

Authors: Hanlon, Hodder, Nelson, Roulstone, Dragoo

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