Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

a)Prepare a statement of comprehensive income for april 30,2021 b) Prepare a balance sheet at April 30,2021 (List current assests in order of liquidity) please

image text in transcribed

image text in transcribed

a)Prepare a statement of comprehensive income for april 30,2021 b) Prepare a balance sheet at April 30,2021 (List current assests in order of liquidity) please answer both part

Presented in alphabetical order, the following data are from the accounting records of Pronghorn Corporation, a public company, at April 30, 2021 W Accounts payable $63,000 Accounts receivable 44,000 Accumulated depreciation equipment 61,000 Accumulated other comprehensive income 18,000 Bonds payable, due 2025 150,000 Cash 100,480 Common shares (no par value, unlimited authorized, 200,000 issued) 300,000 24,000 Depreciation expense Dividend revenue 11,000 240,000 Equipment 82,760 Income tax expense 25,000 Income tax payable Interest expense 7,100 Interest receivable 1,680 Interest revenue 3,360 Investment in associate 140,000 Investment Income or (Loss) 3,000 Investments at amortized cost, bonds due 2023 22,000 Investments at FVTOCI-equity 200,000 Investments at FVTPL-bnds 61,000 Investments at FVTPL-equity 15,000 OCI-holding gain or (loss), net of $3,600 tax (10,000 Rent expense 78,000 Retained earnings 78,660 Salaries expense 237,000 550,000 Service revenue

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Survey Of Accounting

Authors: Carl S. Warren

1st Edition

0538870850, 9780538870856

More Books

Students also viewed these Accounting questions

Question

Critically evaluate Freuds stages of psychosexual development.

Answered: 1 week ago