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Need help with these questions please! Due tonight. he following data pertains to Traverse Co.'s investments in marketable equity securities: What amount should Traverse Co.
Need help with these questions please! Due tonight.
he following data pertains to Traverse Co.'s investments in marketable equity securities: What amount should Traverse Co. report as unrealized holding loss to be included in the 2019 Other Comprehensive Income section? Select one: a. $30,000 b. $55,000 c. $65,000 d. $10,000 e. $70,000 In 2014, Draper Company discovered errors made in 2011-2013, its first three years of operation. Corrected 12/31/13 Total Equity will be: Select one: a. $78,450 b. $110,300 c. $77,950 d. $110,650 e. $78,650 The Chippewa Company decided to change from FIFO to Weighted Average late in Year 20X3. Year 20X1 was the first year of operations. The Statement of Retained Earnings for year-end 12/31/X3 shows two columns, 20X2 and 20X3: What amount will be shown in the 20X3 column on the "Retained Earnings, Jan. 1, as adjusted" line? Select one: a. $355,000 b. $445,000 c. $195,000 d. $155,000 e. $175,000 Straightarm Inc. is a calendar-year corporation. Its financial statements for the years ended 12/31/17 and 12/31/18 contained the following errors: 2018 Net Income is in error by: Select one: a. $54,000 b. $43,000 c. $58,000 d. $69,000 e. $42,000 Straightarm Inc. is a calendar-year corporation. Its financial statements for the years ended 12/31/17 and 12/31/18 contained the following errors: 12/31/18 Retained Earnings is in error by: Select one: a. $75,000 b. $60,000 c. $54,000 d. $46,000 e. $42,000Step by Step Solution
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