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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
am. 26.
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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
$ 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
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