A. If all non-owner related wealth changes were reported as part of net income, how much would Computer Plus, Inc. have reported as net income for the year ending February 1, 2017?B. What amount will Computer Plus report on its balance sheet at February 1, 2017 for comprehensive income?C. Eplain what caused the foreign currency translation adjustment.D. Explain what caused the net unrealized loss on investments The Consolidated Statement of Stockholders' Equity for Computer Plus, Inc. for the year ending February1, 2017 appears below:COMPUTER PLUS, INC.Consolidated Statement of Stockholders' EquityCommon Stockand Capital inExcess of ParRetaineAccumulatedTreasury Stockd.OtherIssuedAmounShareEarning Comprehensive Loss(in millions)SharesAmountTotalBalances at February 3, 20166,780$24,3742,308S(62,890)$56,472$(122)$17,834Net income4,7444,744Change in net unrealized gain or loss oninvestments, net of taxes(12)(12)Foreign currency translation adjustments(66)(66)Change in net unrealized loss onderivative instruments, net of taxes8282Total comprehensive income$4,748Stock issuances under employee plansand other467272Repurchases92(1,400)(1,400)Cash dividends declared(556)(556)Stock-based compensation expenseunder SFAS 123(R)716716Net tax shortfall(54)(54)Balance at February 1, 20176.826$25.1082.400SI64.290)S60.660$(118)$21.360A. If all non-owner related wealth changes were reported as part of net income, how much wouldComputer Plus, Inc. have reported as net income for the year ending February 1, 2017?B. What amount will Computer Plus report on its balance sheet at February 1, 2017 forcomprehensive income?C. Eplain what caused the foreign currency translation adjustment.D. Explain what caused the net unrealized loss on investments.

Answered: A. If all non-owner related wealth…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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A. If all non-owner related wealth changes were reported as part of net income, how much would Computer Plus, Inc. have reported as net income for the year ending February 1, 2017?

B. What amount will Computer Plus report on its balance sheet at February 1, 2017 for comprehensive income?

C. Eplain what caused the foreign currency translation adjustment.

D. Explain what caused the net unrealized loss on investments

The Consolidated Statement of Stockholders' Equity for Computer Plus, Inc. for the year ending February
1, 2017 appears below:
COMPUTER PLUS, INC.
Consolidated Statement of Stockholders' Equity
Common Stock
and Capital in
Excess of Par
Retaine
Accumulated
Treasury Stock
d.
Other
Issued
Amoun
Share
Earning Comprehensiv
e Loss
(in millions)
Shares
Amount
Total
Balances at February 3, 2016
6,780
$24,374
2,308
S(62,890)
$56,472
$(122)
$17,834
Net income
4,744
4,744
Change in net unrealized gain or loss on
investments, net of taxes
(12)
(12)
Foreign currency translation adjustments
(66)
(66)
Change in net unrealized loss on
derivative instruments, net of taxes
82
82
Total comprehensive income
$4,748
Stock issuances under employee plans
and other
46
72
72
Repurchases
92
(1,400)
(1,400)
Cash dividends declared
(556)
(556)
Stock-based compensation expense
under SFAS 123(R)
716
716
Net tax shortfall
(54)
(54)
Balance at February 1, 2017
6.826
$25.108
2.400
SI64.290)
S60.660
$(118)
$21.360
A. If all non-owner related wealth changes were reported as part of net income, how much would
Computer Plus, Inc. have reported as net income for the year ending February 1, 2017?
B. What amount will Computer Plus report on its balance sheet at February 1, 2017 for
comprehensive income?
C. Eplain what caused the foreign currency translation adjustment.
D. Explain what caused the net unrealized loss on investments.

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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