Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

how can I do this senU UILE LUI TIL E4-15 (L03,7) (Comprehensive Income) Roxanne Carter Corporation reported the following for 2017: net sales $1,200,000, cost

image text in transcribed

image text in transcribed

how can I do this

senU UILE LUI TIL E4-15 (L03,7) (Comprehensive Income) Roxanne Carter Corporation reported the following for 2017: net sales $1,200,000, cost of goods sold $750,000, selling and administrative expenses $320,000, and an unrealized holding gain on available-for-sale securities $18,000. Instructions Prepare a statement of comprehensive income, using (a) the one statement format, and (b) the two statement format. (Ignore income taxes and earnings per share.) E4-16 (L06,7) (Comprehensive Income) C. Reither Co. reports the following information for 2017: sales revenue $700,000, cost of goods sold $500,000, operating expenses $80,000, and an unrealized holding loss on available-for-sale securities for 2017 and retained earnings $90,000. It issued no stock during 2017 Instructions Prepare a statement of stockholders' equity. E4-17 (L03,4,6,7) (Various Reporting Formats) The following information was taken from the records of Roland Carlson Inc. for the year 2017: income tax applicable to income from continuing operations $187,000, income tax applicable to loss on discontinued operations $25,500, and unrealized holding gain on available-for-sale securities (net of tax) $15,000. Gain on sale of equipment Loss on discontinued operations Administrative expenses Rent revenue Loss on write-down of inventory $ 95,000 75,000 240,000 40,000 60,000 Cash dividends declared Retained earnings January 1, 2017 Cost of goods sold Selling expenses Sales revenue $ 150,000 600,000 850,000 300,000 1,900,000 Shares outstanding during 2017 were 100,000. Instructions (a) Prepare a single-step income statement. (b) Prepare a comprehensive income statement for 2017, using the two statement format. (c) Prepare a retained earnings statement for 2017. SLEMS P4-1 (L03,4,6) ( Multiple-Step Statement, Retaj son Company for 2017. ngs Statement) related to Dickin

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

Alpine Cupcakes Audit Case With Data Analytics

Authors: Carol Callaway Dee, Mary P.Mindak

2nd Edition

1618533231, 978-1618533234

More Books

Students also viewed these Accounting questions

Question

What laws have been passed to legislate ethics?

Answered: 1 week ago