Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please solve this as soon as possible Presented in alphabetical order, the following data are from the accounting records of Flounder Corporation, a public company,
please solve this as soon as possible
Presented in alphabetical order, the following data are from the accounting records of Flounder Corporation, a public company, at April 30, 2021: Accounts payable $63,000 Accounts receivable 40,000 Accumulated depreciation-equipment 68,000 Accumulated other comprehensive income 14,000 Bonds payable, due 2025 150,000 Cash 100,480 Common shares (no par value, unlimited authorized, 200,000 issued) 300,000 Depreciation expense 28.000 Dividend revenue 10.000 Equipment 280,000 Equipment 280,000 Income tax expense 83,260 Income tax payable 25,000 Interest expense 7,200 Interest receivable 1,680 Interest revenue 3,360 Investment in associate 160.000 Investment Income or (Loss) 3,000 Investments at amortized cost, bonds due 2023 28,000 Investments at FVTOCI-equity 183,000 Investments at FVTPL-bonds 64,000 Investment in associate 160.000 Investment Income or (Loss) 3,000 Investments at amortized cost, bonds due 2023 28.000 Investments at FVTOCI-equity 183.000 Investments at FVTPL-bonds 64,000 Investments at FVTPL-equity 15,000 OCI-holding gain or (loss), net of $3,600 tax (10.000) Rent expense 79,000 Retained earnings 125.260 Salaries expense 232.000 Service revenue 550.000 Prepare a statement of comprehensive income for April 30, 2021. FLOUNDER CORPORATION Statement of Comprehensive Income Year Ended April 30, 2021 Service Revenue 2 $ Other Comprehensive Income * > 7 Total AssetsStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started