Question
-Bawl purchased 10% of ABC Company on 1/1/16. Data regarding these available-for-sale securities follow: The balance of the Accumulated OCI included in the 12/31/17 Stockholders'
-Bawl purchased 10% of ABC Company on 1/1/16. Data regarding these available-for-sale securities follow: The balance of the Accumulated OCI included in the 12/31/17 Stockholders' Equity section was:
Select one:
a. $11,000 credit
b. $11,000 debit
c. $20,000 credit
d. $20,000 debit
e. $5,000 debit
-The balance sheet of Ipod Corporation on December 31, 2019: These errors were made by Ipod on December 31, 2018 and were not corrected: Ending inventory understated $2,400 and prepaid expense of $1,000 omitted. On December 31, 2019, unearned revenue of $1,100 was omitted, and accrued revenue of $1,400 was omitted. The net income shown by the books for 2019 was $13,200. The correct 2019 Net Income is:
Select one:
a. $7,300
b. $12,300
c. $12,100
d. $14,900
e. $10,100
December 31, 2016 December 31, 20 December 31, 2018 Cost $100,000 100,000 100,000 MV 91,000 111,000 105,000Step by Step Solution
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