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Best Limos, Inc. reported the following account balances on its balance sheet as of the beginning of the current year. (Click the icon to view the beginning account balances.) It reported the following information for the current year: (Click the icon to view the current year information.) What is the balance in the accumulated other comprehensive income account at the end of the year? Ignore taxes. (Use a minus sign or parentheses for a loss or to show a decrease in the accumulated other comprehensive income account.) Accumulated Other Comprehensive Income (Loss), Beginning Balance Accumulated Other Comprehensive Income (Loss), Ending Balance Current year information Net Income Unrecognized Pension Costs Dividends Declared Issued 70,000 Shares of Common Stock for $245,000 Unrealized Losses on Available-for-Sale Investments Foreign Currency Translation Adjustments-Gain Amount - X $ 220,000 $ (75,000) $ 14,000 $ 245,000 $ (36,000) $ 23,000 Account balances Retained Earnings Common Stock, $1 Par (200,000 Shares) Additional Paid-in Capital in Excess of Par-Common Accumulated other Comprehensive Income Print Done Clear all - X $ 1,450,000 $ 200,000 $ $ 810,000 375,000 Check answer

Best Limos, Inc. reported the following account balances on its balance sheet as of the beginning of the current year. (Click the icon to view the beginning account balances.) It reported the following information for the current year: (Click the icon to view the current year information.) What is the balance in the accumulated other comprehensive income account at the end of the year? Ignore taxes. (Use a minus sign or parentheses for a loss or to show a decrease in the accumulated other comprehensive income account.) Accumulated Other Comprehensive Income (Loss), Beginning Balance Accumulated Other Comprehensive Income (Loss), Ending Balance Current year information Net Income Unrecognized Pension Costs Dividends Declared Issued 70,000 Shares of Common Stock for $245,000 Unrealized Losses on Available-for-Sale Investments Foreign Currency Translation Adjustments-Gain Amount - X $ 220,000 $ (75,000) $ 14,000 $ 245,000 $ (36,000) $ 23,000 Account balances Retained Earnings Common Stock, $1 Par (200,000 Shares) Additional Paid-in Capital in Excess of Par-Common Accumulated other Comprehensive Income Print Done Clear all - X $ 1,450,000 $ 200,000 $ $ 810,000 375,000 Check answer

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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am. 26.

es Best Limos, Inc. reported the following account balances on its balance sheet as of the beginning of the current year. (Click the icon to view the beginning account balances.) It reported the following information for the current year: (Click the icon to view the current year information.) What is the balance in the accumulated other comprehensive income account at the end of the year? Ignore taxes. (Use a minus sign or parentheses for a loss or to show a decrease in the accumulated other comprehensive income account.) Accumulated Other Comprehensive Income (Loss), Beginning Balance Accumulated Other Comprehensive Income (Loss), Ending Balance Current year information Net Income Unrecognized Pension Costs Dividends Declared Issued 70,000 Shares of Common Stock for $245,000 Unrealized Losses on Available-for-Sale Investments Foreign Currency Translation Adjustments-Gain $ 220,000 $ (75,000) $ 14,000 $ 245,000 $ (36,000) $ 23,000 Amount X Account balances Retained Earnings $ 1,450,000 $ 200,000 Common Stock, $1 Par (200,000 Shares) Additional Paid-in Capital in Excess of Par-Common $ 810,000 Accumulated other Comprehensive Income $ 375,000 Print Done - X Clear all Check answer
Transcribed Image Text:es Best Limos, Inc. reported the following account balances on its balance sheet as of the beginning of the current year. (Click the icon to view the beginning account balances.) It reported the following information for the current year: (Click the icon to view the current year information.) What is the balance in the accumulated other comprehensive income account at the end of the year? Ignore taxes. (Use a minus sign or parentheses for a loss or to show a decrease in the accumulated other comprehensive income account.) Accumulated Other Comprehensive Income (Loss), Beginning Balance Accumulated Other Comprehensive Income (Loss), Ending Balance Current year information Net Income Unrecognized Pension Costs Dividends Declared Issued 70,000 Shares of Common Stock for $245,000 Unrealized Losses on Available-for-Sale Investments Foreign Currency Translation Adjustments-Gain $ 220,000 $ (75,000) $ 14,000 $ 245,000 $ (36,000) $ 23,000 Amount X Account balances Retained Earnings $ 1,450,000 $ 200,000 Common Stock, $1 Par (200,000 Shares) Additional Paid-in Capital in Excess of Par-Common $ 810,000 Accumulated other Comprehensive Income $ 375,000 Print Done - X Clear all Check answer
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