Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can someone help me out this? % ADMN3221H Assignment 2.Fall17(1).pdf (page 4 of 7)- O Search ADMN 3221H Accounting Assignment 2 - Fall 2017 Question

Can someone help me out this?image text in transcribed

% ADMN3221H Assignment 2.Fall17(1).pdf (page 4 of 7)- O Search ADMN 3221H Accounting Assignment 2 - Fall 2017 Question 11 (15 marks) Rosewater Limited had the following balances at December 31, 2015 (all amounts in thousands) Preferred shares $2,006 Common shares $5,291 Contributed surplus $2,225 Retained earnings $13,692 Accumulated other comprehensive income $1,526 During the year ended December 31, 2016, the company earned net income of $4,352,000, generated an unrealized holding gain on fair value through OCI investments of $348,000, sold common shares of $170,000, and paid out dividends of $23,000 and $7,000 to preferred and common shareholders, respectively. The company accounts for investments in accordance with IAS 39. Prepare a statement of changes in equity for the year ended December 31, 2016, as well as the shareholders' equity section of Rosewater Limited's balance sheet as at December 31, 2016. Part B (57 marks) 12. The statement of financial position is useful for analyzing all of the following EXCEPT a) liquidity % ADMN3221H Assignment 2.Fall17(1).pdf (page 4 of 7)- O Search ADMN 3221H Accounting Assignment 2 - Fall 2017 Question 11 (15 marks) Rosewater Limited had the following balances at December 31, 2015 (all amounts in thousands) Preferred shares $2,006 Common shares $5,291 Contributed surplus $2,225 Retained earnings $13,692 Accumulated other comprehensive income $1,526 During the year ended December 31, 2016, the company earned net income of $4,352,000, generated an unrealized holding gain on fair value through OCI investments of $348,000, sold common shares of $170,000, and paid out dividends of $23,000 and $7,000 to preferred and common shareholders, respectively. The company accounts for investments in accordance with IAS 39. Prepare a statement of changes in equity for the year ended December 31, 2016, as well as the shareholders' equity section of Rosewater Limited's balance sheet as at December 31, 2016. Part B (57 marks) 12. The statement of financial position is useful for analyzing all of the following EXCEPT a) liquidity

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

Step: 3

blur-text-image

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

Auditing Practices In Local Governments An International Comparison

Authors: Laurence Ferry, Pasquale Ruggiero

1st Edition

180117086X, 978-1801170864

More Books

Students also viewed these Accounting questions