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I would really love a break down of each calculation. I'm trying to understand this stuff and to do that I would like to know
I would really love a break down of each calculation. I'm trying to understand this stuff and to do that I would like to know how each answer is processed. The answers I've filled in may or may not be correct, please do break those calculations out for me as well. I greatly appreciate you!
Trial Balance (Selected Accounts) -> Colleen's Cookie Company Trial Balance (Selected Accounts) For the Current Year Ended December 31 Account Debit Credit $ 1,154,000 Retained Earnings, Beginning Balance Accumulated Other Comprehensive Income, Beginning Balance $ 56,750 Dividends 53,000 Sales 1,630,000 Interest Income 3,700 Dividend Income 3,550 6,900 75,000 Gain on Sale of Property Gain on Disposal of Plant Assets Unrealized Gain on Trading Investments Unrealized Gain on Available-for-Sale Bonds Before Tax 27,350 3,600 Gain on Sale of Discontinued Operations Before Tax 49,500 Cost of Goods Sold 550,000 38,000 Selling Expenses Office Supplies Expense Amortization Expense 59,100 10,500 Sales Salaries Expense 21,500 22,000 68,000 Advertising Expense Office Salaries Expense Depreciation Expense Legal Fees Accounting Fees 22,500 8,500 10,800 Print Done Colleen's Cookie Company provided the following account balances from its year-end trial balance. (Click the icon to view the year-end trial balance.) During the year, Colleen issued no-par common stock. The proceeds of the new issue were $26,000. The company is subject to a 40% income tax rate. The beginning balance in common stock was $500,000. Read the requirement. Colleen's Cookie Company Statement of Stockholders' Equity For the Current Year Ended December 31 Accumulated Other Total Common Retained Stockholders' Stock Earnings Comprehensive Income (Loss) (56,750) Equity Balance, January 1 500000 1545000 Net Income Dividends Declared (53000 Issuance of Common Stock 26000 Unrealized Gain on Available-For-Sale Securities, Net of Tax 105950 Balance, December 31 Trial Balance (Selected Accounts) -> Colleen's Cookie Company Trial Balance (Selected Accounts) For the Current Year Ended December 31 Account Debit Credit $ 1,154,000 Retained Earnings, Beginning Balance Accumulated Other Comprehensive Income, Beginning Balance $ 56,750 Dividends 53,000 Sales 1,630,000 Interest Income 3,700 Dividend Income 3,550 6,900 75,000 Gain on Sale of Property Gain on Disposal of Plant Assets Unrealized Gain on Trading Investments Unrealized Gain on Available-for-Sale Bonds Before Tax 27,350 3,600 Gain on Sale of Discontinued Operations Before Tax 49,500 Cost of Goods Sold 550,000 38,000 Selling Expenses Office Supplies Expense Amortization Expense 59,100 10,500 Sales Salaries Expense 21,500 22,000 68,000 Advertising Expense Office Salaries Expense Depreciation Expense Legal Fees Accounting Fees 22,500 8,500 10,800 Print Done Colleen's Cookie Company provided the following account balances from its year-end trial balance. (Click the icon to view the year-end trial balance.) During the year, Colleen issued no-par common stock. The proceeds of the new issue were $26,000. The company is subject to a 40% income tax rate. The beginning balance in common stock was $500,000. Read the requirement. Colleen's Cookie Company Statement of Stockholders' Equity For the Current Year Ended December 31 Accumulated Other Total Common Retained Stockholders' Stock Earnings Comprehensive Income (Loss) (56,750) Equity Balance, January 1 500000 1545000 Net Income Dividends Declared (53000 Issuance of Common Stock 26000 Unrealized Gain on Available-For-Sale Securities, Net of Tax 105950 Balance, December 31Step by Step Solution
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