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Could someone help me on the following questions: 1.) For the year ended December 31, 2012, Transformers Inc. reported the following: Net income $120,000 Preferred
Could someone help me on the following questions: 1.) For the year ended December 31, 2012, Transformers Inc. reported the following: Net income $120,000 Preferred dividends declared 20,000 Common dividend declared 4,000 Unrealized holding loss, net of tax 2,000 Retained earnings 160,000 Common stock 80,000 Accumulated Other Comprehensive Income, Beginning Balance 10,000 What would Transformers report as its ending balance of Accumulated Other Comprehensive Income? 2.) IFRS includes both International Financial Reporting Standards and International Accounting Standards For the year ended December 31, 2012, Transformers Inc. reported the following: Net income $120,000 Preferred dividends declared 20,000 Common dividend declared 4,000 Unrealized holding loss, net of tax 2,000 Retained earnings 160,000 Common stock 80,000 Accumulated Other Comprehensive Income, Beginning Balance 10,000 What would Transformers report as its ending balance of Accumulated Other Comprehensive Income? a.)$8,000 b.)$2,000 c.)$12,000 3. Franco Company uses IFRS and owns property, plant and equipment with a historical cost of 5,000,000 euros. At December 31, 2011, the company reported a valuation reserve of 8,365,000 euros. At December 31, 2012, the property, plant and equipment was appraised at 5,325,000 euros. The property, plant and equipment will be reported on the December 31, 2012 balance sheet at Keisler Corporation reports: Cash provided by operating activities $ 240,000 Cash used by investing activities 110,000 Cash provided by financing activities 140,000 Beginning cash balance 70,000 What is Keisler's ending cash balance? a.) $490,000 b.) $340,000 c.) $560,000 d.) $270,000
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