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please solve them all 5,7, and 11 Question 5 ABC Corporation reports the following information: Correction of overstatement of depreciation expense in prior years, net
please solve them all 5,7, and 11
Question 5 ABC Corporation reports the following information: Correction of overstatement of depreciation expense in prior years, net of tax $ 430,000 Dividends declared, 2015 320,000 Net Income for 2015 1,000,000 Retained earnings, 1/1/15, as reported 2,500,000 Moorman should report retained earnings, December 31, 2015, of Question 7 ABC Company reported the following information for 2015: Sales revenue $100,000 Cost of goods sold 20,000 Operating expenses 30,000 Unrealized holding gains on non-trading securities, net of tax 15,000 For 2015, ABC would report comprehensive income of Question 11 ABC Corp.'s trial balance reflected the following account balances at December 31, 2015: Accounts receivable (net) $34,000 Trading securities 6,000 Accumulated depreciation-equipment 15,000 Cash 21,000 Inventory 30,000 Equipment 25,000 Patent 4,000 Prepaid expenses 2,000 In ABC's December 31, 2015 statement of financial position, the current assets total is Step by Step Solution
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