Question
1. Bandana Company had the following balances for net income and pretax gains and losses on December 31: Net income $ 39,000 Loss on discontinued
1. Bandana Company had the following balances for net income and pretax gains and losses on December 31: Net income $ 39,000 Loss on discontinued operations (11,000) Unrealized gain on trading security 20,000 Foreign currency translation gain 15,000The company's effective tax rate is 40%. What amount should Bandana Company report as comprehensive income for the year ended December 31?
$53,400
$48,000
$44,400
$32,400
2, Anderson Corporation's trial balance for December 31, the end of its fiscal year, included the following accounts:
Accounts Payable $47,000 Dividends Payable 10,000 Bond Payable, maturing in 9 years 54,000 Salaries Payable 10,000 Note Payable, due in 1 year 15,000 Note payable, due in 5 years 70,000The bond payable is a serial bond with equal amounts of principal maturing each year. The note payable due in 5 years has equal principal payments due each year.
The amount that should be classified as current liabilities on Anderson's December 31 balance sheet is ____. $102,000 $150,000 $86,000 $96,000
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