l BTC 09:13 18% Intermediate Accounting ( PDFDri... X PDF- 10.9 MB 186 Chapter 4 Income Statement and Related Information Instrctions a Whot is Manke's net income in 20177 Aume a 35% tx rate in all yean o Compute the cumalative efioct of the change in accounting principle from wighted-aserage to FIO iventory pricing Show coparative income stements foe Tim Matke Company, begining with income befce ince x, as pr dn the 2017 staent E4-15 L03,7) Camprehensive Incomet Rouanne Carter Corporaticn mparted the following foe 2017: net sales $1,200,000, cot of goods sold $750000,ng and adminstrative enpenses 520,0, and an unalland holding gain cn available-or-sale wur $18000 Instrctions epare a statement of compeheive income, inme tases and eamings per shae) sing a) the one statemt fomat, and 0) the two staemet omat o E4-16 LO6,7) Compeehensive Incemet C. Reither Co eports the following indomation for 2007 sales nevense $700,000 cot of goods sold 5s00.000 aperating epenses S80,000, and an unalized holding los on available for-sale securities for 2017 of s0,00 declared and paid a cah dividend of S10,000 in 2017 C Reither Co. has January 1, 2017, balanoces in common shack $s0,000, accumalated ether comprehenive income $80,00 and mained earming 50,000 d no ock during 2017 Instructiens Prepare a statement of stockholdens' equity 4-17 L03,4,6,7) (arioun Reporting Format The following indormation was taken from the wconds of Roland Carlon In for the yoar 2007 income tax applicale to income from coetinaing operations $i8700, income tax aprplicable to loss on discontinued operatione $25,500, and unaled holding gain on available-for-sale securites inet of tax) $15,.000 Cdkidende drciared Retined ins ry 1,20 Cot of gds sd pe Gain on sale of equ tdiso operstion dnvpeme Rtw t wtedof eony s h 2 s IMa 300 Shans outstanding during 207 w 100,000 Instructions aPepane a single-step income statement o Prepane a comphersive income statement for 2017, ing the two statement format to Pepae a netained earmings stemnt for 2007 PROBLEMS P4 L03,4,8) Multiple-Step Statement, Retained Eamings Statement) The following information is related to Dickin son Company for 201 Rned eaingbluce. January 1,3017 Sel Cot of godh k 25am ma Sengand ad We-of of podwi 2400 ma 2017 the le of ve Lo dtefood damage Lon he di o eho vin t of t) L onope of the wholesle de(t of 40 Problems 187 s 2 Dvdmd decared on cmen sck Didmd declared on pedaed stock Dkinon Company deciled to discontinee is mtire wholesale opetions (coidened a discontinued openticn) and to tain its manulactering operations On September 15, Dickinn sold the whelesle openations to Rogers Compary Dring a we 500,000 shares of common stck outstanding all year Instructions Ipare a ltiple-top income stament and a stained oamings staement P4-2 L034,) EXCEL Single-Step Sutement, Retained Eamings Statement, Periedic Inventoryt Preented b trial balance of Thompson Coeponation at Eecember 31, 2017 THOMPSON CORPORATION TL BANCE Comprehensive Stock Transaction Exercise Kevin James is the chief eseutve officer of Golden James Ine a marsfacturing company that his fsther founded 25 years ago The company's fecal year pst ended on June 30, 2017, and evin is now considering what steps to take in the next fiscal year with regard to stockholderss equity The corrent status of the company's stockholders equity is as follews Centributed capital Common stock, no par value, S6 stated value s00 shares authorized, 125 shares sued and outstanding Additional paid in capital Total contributed capital Retained earnings Total stockholders' equity $750,000 410,000 $1,160,000 485,000 $1,645,000 Among the questions Kevin is wrestling with are whether the company should declare a stock split, whether it should issue preferred stock to raise capital, and whether it should pay cash dividends or use cash to buy back its own stock The following transactions show how the company responded to these questions during the fiscal year that ended on June 30, 2017. The board of directors declared a 2-for-1 stock split a. b The board of directors obtained authorization to issue 25,000 shares of $100 par value, 6 percent noncumulative preferred stock, callable at $104 The company issued 6,000 shares of common stock for a building appraised at $48,000 d It bought back 4,000 shares of its common stock for $32,000 e It issued 10,000 shares of preferred stock for $100 per share. fit sold 2,500 shares of treasury stock for $17,500 & It declared cash dividends of $6 per share on preferred stock and $0.20 per share on common stock. h. It declared a 10 percent stock dividend on common stock to be distributed after the end of the fiscal year. The market value was $10 per share. LIt closed net income for the year, $170,000 j. It closed the Dividends and Stock Dividends accounts to Retained Earnings Required 1. Using the data presented record the preceding transactions, if no transaction you must Indicate when there is no entry ollege oREPa Edito l BTC 09:13 18% Intermediate Accounting ( PDFDri... X PDF- 10.9 MB 186 Chapter 4 Income Statement and Related Information Instrctions a Whot is Manke's net income in 20177 Aume a 35% tx rate in all yean o Compute the cumalative efioct of the change in accounting principle from wighted-aserage to FIO iventory pricing Show coparative income stements foe Tim Matke Company, begining with income befce ince x, as pr dn the 2017 staent E4-15 L03,7) Camprehensive Incomet Rouanne Carter Corporaticn mparted the following foe 2017: net sales $1,200,000, cot of goods sold $750000,ng and adminstrative enpenses 520,0, and an unalland holding gain cn available-or-sale wur $18000 Instrctions epare a statement of compeheive income, inme tases and eamings per shae) sing a) the one statemt fomat, and 0) the two staemet omat o E4-16 LO6,7) Compeehensive Incemet C. Reither Co eports the following indomation for 2007 sales nevense $700,000 cot of goods sold 5s00.000 aperating epenses S80,000, and an unalized holding los on available for-sale securities for 2017 of s0,00 declared and paid a cah dividend of S10,000 in 2017 C Reither Co. has January 1, 2017, balanoces in common shack $s0,000, accumalated ether comprehenive income $80,00 and mained earming 50,000 d no ock during 2017 Instructiens Prepare a statement of stockholdens' equity 4-17 L03,4,6,7) (arioun Reporting Format The following indormation was taken from the wconds of Roland Carlon In for the yoar 2007 income tax applicale to income from coetinaing operations $i8700, income tax aprplicable to loss on discontinued operatione $25,500, and unaled holding gain on available-for-sale securites inet of tax) $15,.000 Cdkidende drciared Retined ins ry 1,20 Cot of gds sd pe Gain on sale of equ tdiso operstion dnvpeme Rtw t wtedof eony s h 2 s IMa 300 Shans outstanding during 207 w 100,000 Instructions aPepane a single-step income statement o Prepane a comphersive income statement for 2017, ing the two statement format to Pepae a netained earmings stemnt for 2007 PROBLEMS P4 L03,4,8) Multiple-Step Statement, Retained Eamings Statement) The following information is related to Dickin son Company for 201 Rned eaingbluce. January 1,3017 Sel Cot of godh k 25am ma Sengand ad We-of of podwi 2400 ma 2017 the le of ve Lo dtefood damage Lon he di o eho vin t of t) L onope of the wholesle de(t of 40 Problems 187 s 2 Dvdmd decared on cmen sck Didmd declared on pedaed stock Dkinon Company deciled to discontinee is mtire wholesale opetions (coidened a discontinued openticn) and to tain its manulactering operations On September 15, Dickinn sold the whelesle openations to Rogers Compary Dring a we 500,000 shares of common stck outstanding all year Instructions Ipare a ltiple-top income stament and a stained oamings staement P4-2 L034,) EXCEL Single-Step Sutement, Retained Eamings Statement, Periedic Inventoryt Preented b trial balance of Thompson Coeponation at Eecember 31, 2017 THOMPSON CORPORATION TL BANCE Comprehensive Stock Transaction Exercise Kevin James is the chief eseutve officer of Golden James Ine a marsfacturing company that his fsther founded 25 years ago The company's fecal year pst ended on June 30, 2017, and evin is now considering what steps to take in the next fiscal year with regard to stockholderss equity The corrent status of the company's stockholders equity is as follews Centributed capital Common stock, no par value, S6 stated value s00 shares authorized, 125 shares sued and outstanding Additional paid in capital Total contributed capital Retained earnings Total stockholders' equity $750,000 410,000 $1,160,000 485,000 $1,645,000 Among the questions Kevin is wrestling with are whether the company should declare a stock split, whether it should issue preferred stock to raise capital, and whether it should pay cash dividends or use cash to buy back its own stock The following transactions show how the company responded to these questions during the fiscal year that ended on June 30, 2017. The board of directors declared a 2-for-1 stock split a. b The board of directors obtained authorization to issue 25,000 shares of $100 par value, 6 percent noncumulative preferred stock, callable at $104 The company issued 6,000 shares of common stock for a building appraised at $48,000 d It bought back 4,000 shares of its common stock for $32,000 e It issued 10,000 shares of preferred stock for $100 per share. fit sold 2,500 shares of treasury stock for $17,500 & It declared cash dividends of $6 per share on preferred stock and $0.20 per share on common stock. h. It declared a 10 percent stock dividend on common stock to be distributed after the end of the fiscal year. The market value was $10 per share. LIt closed net income for the year, $170,000 j. It closed the Dividends and Stock Dividends accounts to Retained Earnings Required 1. Using the data presented record the preceding transactions, if no transaction you must Indicate when there is no entry ollege oREPa Edito