Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare a statement of statement of changes in equity. Suncorp During 2017, Suncorps shareholders invested $26,880 in exchange for common shares. Accumulated other comprehensive income

Prepare a statement of statement of changes in equity.

Suncorp

image text in transcribed

image text in transcribed

image text in transcribed

During 2017, Suncorps shareholders invested $26,880 in exchange for common shares. Accumulated other comprehensive income had a balance of $0 on January 1, 2017.

Statement of Changes in Equity Statement of Comprehensive Income or the Year Ended December 31, 2017 font color-"black">Revenues ervice Revenu font color-"black"> Expenses Repairs and Maintenance Expense $15904 4784 1832 1480 epreciation Expens nsurance Expens alaries and Wages Expens tilities Expens font color-"black"> Total Expenses 1939 92 191408 Net Income / (Loss) SF3236 ther Comprehensive Income 7618 omprehensive Income (Loss) SF2475 Statement of Comprehensive Income Statement of Financial Position Account No. 101 112 130 140 157 167 201 212 301 306 400 622 Account Titles Cash Accounts receivable Prepaid insurance Fair Value OCI Investments Equipment Accumulated depreciation-equipment Accounts payable Salaries and wages payable Common shares Retained earnings Service revenue Repairs and maintenance expense Depreciation expense Insurance expense Salaries and wages expense Utilities expense Unrealized gain or loss-oCI Dr. Dr. 20,160 47,040 2,016 28,560 109,760 Cr 32,032 35,392 8,064 89,600 67,200 159,040 722 726 732 801 14,784 31,832 21,480 119,392 3,920 7,616 Totals 191,408 166,656 207,536 232,288 24,752 24,752 191,408 232,288 232,288 Net loss and OCI 191,408

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

Recommended Textbook for

Auditing And Accounting Cases Investigating Issues Of Fraud And Professional Ethics

Authors: Jay Thibodeau, Deborah Freier

3rd Edition

0078110815, 9780078110818

More Books

Students also viewed these Accounting questions

Question

Understand the reasons for engaging consultants

Answered: 1 week ago