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right answer please The following is information for Bramble Corp. for the year ended December 31, 2020: Sales revenue $ 1,260,000 Loss on inventory due
right answer please
The following is information for Bramble Corp. for the year ended December 31, 2020: Sales revenue $ 1,260,000 Loss on inventory due to decline in net realizable value 73,000 Unrealized gain on FV-OCl equity investments 30,000 41,000 Loss on disposal of equipment 6.000 Interest income Depreciation expense related to buildings omitted by mistake in 2019 58,000 Cost of goods sold 910,000 756,000 Retained earnings at December 31, 2019 Selling expenses 63,000 64.000 Loss from expropriation of land 47.000 Administrative expenses 48.000 Dividends declared Dividend revenue 20.000 The effective tax rate is 35% on all items. Bramble prepares financial statements in accordance with IFRS. The FV-OCl equity investments trade on the stock exchange. Gains/losses on FV-OCl investments are not recycled through net income. The effective tax rate is 35% on all items. Bramble prepares financial statements in accordance with IFRS. The FV-OCl equity investments trade on the stock exchange. Gains/losses on FV-OCl investments are not recycled through net income. - Your answer is partially correct. Prepare a multiple-step statement of financial performance for 2020, showing expenses by function. Ignore calculation of EPS. Bramble Corp. Statement of Financial Performance Sales Revenue S 1 260.00 Cost of Goods Sold 756,000 5040 Gross Profit/ (Loss) Operating Expenses --- Prepare the retained earnings section of the statement of changes in equity for 2020. (List items that increase retained earnings first following the adjustment of prior years.) Bramble Corp. Excerpt from Statement of Changes in Equity Prepare the journal entry to record the depreciation expense omitted by mistake in 2019. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit e Textbook and MediaStep by Step Solution
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