1. The following is a data transaction from PT Colorpop's records as the basis for making a Statement of Comprehensive Income for the period ended 31 December 2020: Rent Revenue $ 44,000 Interest Expense $ 20,000 Unrealized gain on non-trading equity securities, net of tax $ 35,000 Selling expenses $ 140,000 Income tax $ 30,600 Administrative expenses $ 185,000 Cost of goods sold $ 500,000 Net sales $ 954,000 Loss on sale of plant assets $ 10,000 Loss from Fixed Assets Revaluation, net of tax $2,000 Instructions: Create a Statement of Comprehensive Income using a two-statement approach! Calculate the value of Ending Per Share for 2020 if the number of shares outstanding is 100,000 shares.
1. The following is a data transaction from PT Colorpop's records as the basis for making a Statement of Comprehensive Income for the period ended 31 December 2020: Rent Revenue $ 44,000 Interest Expense $ 20,000 Unrealized gain on non-trading equity securities, net of tax $ 35,000 Selling expenses $ 140,000 Income tax $ 30,600 Administrative expenses $ 185,000 Cost of goods sold $ 500,000 Net sales $ 954,000 Loss on sale of plant assets $ 10,000 Loss from Fixed Assets Revaluation, net of tax $2,000 Instructions: Create a Statement of Comprehensive Income using a two-statement approach! Calculate the value of Ending Per Share for 2020 if the number of shares outstanding is 100,000 shares.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. The following is a data transaction from PT Colorpop's records as the basis for making a Statement of Comprehensive Income for the period ended 31 December 2020:
|
Rent Revenue |
$ 44,000 |
|
Interest Expense |
$ 20,000 |
|
Unrealized gain on non-trading equity securities, net of tax |
$ 35,000 |
|
Selling expenses |
$ 140,000 |
|
Income tax |
$ 30,600 |
|
Administrative expenses |
$ 185,000 |
|
Cost of goods sold |
$ 500,000 |
|
Net sales |
$ 954,000 |
|
Loss on sale of plant assets |
$ 10,000 |
|
Loss from Fixed Assets Revaluation, net of tax |
$2,000 |
Instructions:
- Create a Statement of Comprehensive Income using a two-statement approach!
- Calculate the value of Ending Per Share for 2020 if the number of shares outstanding is 100,000 shares.
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