Account Credit Debit 200,800 70,000 10,500 5,000 Account Debit Credit 32 Dividend payable 17,000 33 Accumulated other comprehensive income, beginning balance 35,000 34 Treasury, beginning balance a 35 Preferred stock, par value $50 per share, beginning balance 200,000 36 Common stock, par value $1 per share, beginning balance 100,000 37 Paid in capital in excess of par - Common stock, beginning balance 900,000 38 Retained eamings, beginning balance 21,000 The selected balances above were taken from the books of Parnevik Corp. on December 31, 2019, otherwise noted. Beginning balance refers to balance on 1/1/2019. 2,400 200,000 1 Selling & General Admin expenses 2 Accumulated depreciation-building & equipment 3 Tax Payable 4 Interest expense 5 Uneamed Sales revenue 6 Finished goods Inventory 7 Allowance for doubtful accounts 8 Goodwill 9 Impairment of goodwill 10 Debt Investments (trading securities) 11 Sales returns and allowances 12 Unrealized holding losses on available-for-sale securities 13 Bonds payable 14 Unrealized holding gains on trading securities 15 Cash 7,000 457,234 25,000 515,000 153,000 21,000 2,000,000 15,000 Note: 1. For cash, use A = L+E 2. 6% cumulative preferred stock, $50 par value, 4,000 shares issued and outstanding, preferred dividend is cumulative. No preferred stock was issued during 2019. 3. Preferred dividend has been paid until 2017. No preferred dividend has been paid in 2018. 4. All the common stock has $1 par value. 5. 100,000 shares issued and zero treasury stock on 1/1/2019. 6. 50,000 shares are issued on 7/1/2019 for $500,000. 7. 3,000 shares are repurchased on 10/1/2019, the company paid $45,000 and it uses cost method for treasury method accounting. 8. Assume the total effective tax rate on all items in income statement otherwise noted) is 15%. 16 Sales revenue 2,324,000 30,000 3,000 624,700 100,000 155,000 202,000 17 Copyrights 18 Interest revenue 19 Cost of goods sold 20 Land 21 Available-for-sale securities (Non-current) 22 Accounts payable 23 Building and Equipment 24 Prepaid Other Operating Expense 25 Dividend declared 26 Accounts receivable 27 Gain on discontinued operations, after tax 28 Premium on bonds payable 29 Unrealized gain on cash flow hedge 30 Work in process 31 Supplies Question A Determine comprehensive income for the year 2019. Show work clearly B. Determine book value per share on 12/31/2019. Show numerator and denominator clearly 340,000 20,000 25,000 150,000 15,000 2,000 12,000 10,000 15,000 Account Credit Debit 200,800 70,000 10,500 5,000 Account Debit Credit 32 Dividend payable 17,000 33 Accumulated other comprehensive income, beginning balance 35,000 34 Treasury, beginning balance a 35 Preferred stock, par value $50 per share, beginning balance 200,000 36 Common stock, par value $1 per share, beginning balance 100,000 37 Paid in capital in excess of par - Common stock, beginning balance 900,000 38 Retained eamings, beginning balance 21,000 The selected balances above were taken from the books of Parnevik Corp. on December 31, 2019, otherwise noted. Beginning balance refers to balance on 1/1/2019. 2,400 200,000 1 Selling & General Admin expenses 2 Accumulated depreciation-building & equipment 3 Tax Payable 4 Interest expense 5 Uneamed Sales revenue 6 Finished goods Inventory 7 Allowance for doubtful accounts 8 Goodwill 9 Impairment of goodwill 10 Debt Investments (trading securities) 11 Sales returns and allowances 12 Unrealized holding losses on available-for-sale securities 13 Bonds payable 14 Unrealized holding gains on trading securities 15 Cash 7,000 457,234 25,000 515,000 153,000 21,000 2,000,000 15,000 Note: 1. For cash, use A = L+E 2. 6% cumulative preferred stock, $50 par value, 4,000 shares issued and outstanding, preferred dividend is cumulative. No preferred stock was issued during 2019. 3. Preferred dividend has been paid until 2017. No preferred dividend has been paid in 2018. 4. All the common stock has $1 par value. 5. 100,000 shares issued and zero treasury stock on 1/1/2019. 6. 50,000 shares are issued on 7/1/2019 for $500,000. 7. 3,000 shares are repurchased on 10/1/2019, the company paid $45,000 and it uses cost method for treasury method accounting. 8. Assume the total effective tax rate on all items in income statement otherwise noted) is 15%. 16 Sales revenue 2,324,000 30,000 3,000 624,700 100,000 155,000 202,000 17 Copyrights 18 Interest revenue 19 Cost of goods sold 20 Land 21 Available-for-sale securities (Non-current) 22 Accounts payable 23 Building and Equipment 24 Prepaid Other Operating Expense 25 Dividend declared 26 Accounts receivable 27 Gain on discontinued operations, after tax 28 Premium on bonds payable 29 Unrealized gain on cash flow hedge 30 Work in process 31 Supplies Question A Determine comprehensive income for the year 2019. Show work clearly B. Determine book value per share on 12/31/2019. Show numerator and denominator clearly 340,000 20,000 25,000 150,000 15,000 2,000 12,000 10,000 15,000