Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please solve it in Excel Exercise 4-10 The following is information for Blue Spruce Corp. for the year ended December 31, 2017: Net sales revenue

please solve it in Excel
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Exercise 4-10 The following is information for Blue Spruce Corp. for the year ended December 31, 2017: Net sales revenue $1,220,000 Loss on inventory due to decline in net realizable value (NRV) Unrealized gain on FV-OCI investments 45,000 Loss on sale of equipment Interest Income 9,000 Depreciation expense related to buildings omitted by mistake in 2016 Cost of goods sold 732,000 Retained earnings at December 31, 2016 Selling expenses 61,000 Loss-other (due to expropriation of land) Administrative expenses 51,000 Dividends declared Dividend revenue 15,000 $72,000 45,000 51,000 940,000 55,000 41,000 The effective tax rate is 20% on all items. Blue Spruce prepares financial statements in accordance with IFRS. The FV-OCI investments trade on the stock excha investments are recycled through net income. Prepare a multiple-step statement of comprehensive income for 2017, showing expenses by function. Ignore calculation of EPS. Blue Spruce Corp. Statement of Comprehensive Income 4 Blue Spruce Corp. Statement of Comprehensive Income 4 PRIN . . Prepare the retained earnings section of the statement of changes in equity for 2017. (List items that increase retained earnings first following the adjustment Blue Spruce Corp. Excerpt from Statement of Changes in Equity wwwy + . Prepare the journal entry to record the depreciation expense omitted by mistake in 2016. (Credit account titles are automatically indented when the amount is manually.) Account Titles and Explanation Debit Credit

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

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Why Is Software Architecture Important?

Answered: 1 week ago

Question

Use a three-step process to develop effective business messages.

Answered: 1 week ago