During 2021 Carla Vista Company purchased 10700 shares of Kingbird Inc. for $37 per share. During the year Carla Vista Company sold 2850 shares of Kingbird, Inc. for $42 per share. At December 31, 2021 the market price of Kingbird, Inc.’s stock was $35 per share. What is the total amount of gain/(loss) that Carla Vista Company will report in its income statement for the year ended December 31, 2021 related to its investment in Kingbird, Inc. stock

Q: Prepare a single step income statement with respect to income from operations.

A: INCOME STATEMENTAn income statement is a financial report that depicts a company's income and…

Q: Dex Lukes at December 31, 2020, the end of its first year of operations has the following details:…

A: Income from operations = Sales revenue - Cost of goods sold - Selling and administrative expenses

Q: (a) Income from operation, (b) net income, (c) net income attributed to controlling shareholders,

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: For the financial year ended December 31, 2020, Khareef Salalah Company reported net sales of RO…

A: Asset Turnover Ratio helps a business entity to measures the efficiency with which an entity uses…

Q: Prepare a 2025 retained earnings statement for Bramble Company.

A: The retained earnings indicate the portion of the earnings left with the company after the…

Q: Pat Matthew Company reported the following pre-tax information for its current year, 2020: $40,000…

A: Loss from discontinuing operations, net of tax = Loss from discontinuing operations - Tax = $8,000 -…

Q: Denise Adams Company Limited (DACL) complete the fiscal period of 2019 with revenue of $10M with a…

A: Return on equity is a ratio which is used by companies to measure financial performance. In other…

Q: Royalbird Co. reports the following information for 2020: sales revenue $762,900, cost of goods sold…

A:

Q: Pacquired an 80% of S Company at a cost of $200,000 on January 1, 2020. S reported net income in…

A: P's share in net income of S ( For year 2021 ) = $40,000 x 80% = $32,000

Q: Sales Cost of good Gross incom OsS

A: Reporting of assets of discontinued operations has to be done at the fair values.

Q: Schwert Corp. shows the following information on its 2019 income statement: sales = $246,000; costs…

A: Net capital spending refers to the amount that should be spend by the company for acquiring the…

Q: amarisk, Inc. had the following equity investment portfolio at January 1, 2020. Evers Company   950…

A: Journal Entry: It is the entry  which is used by an enterprise to  record  the business transactions…

Q: At December 31, 2022, Cracker Company reported Retained Earnings of $20,000,000. In 2023, Cracker…

A: The objective of the question is to determine the correct treatment of an error in the amortization…

Q: Gina Company reported income before tax of P3,500,000 for 2020 which included the following amounts:…

A: Net income is calculated by deducting all expense from the total revenue. It includes operating as…

Q: Gable Inc. provided you with the following information for the year ended December 31, 2021: Sales…

A: An income statement is a financial report that indicates the revenue and expenses of a business. It…

Q: Pharoah Corporation has income from continuing operations of $278,400 for the year ended December…

A: PHAROAH CORPORATION Income Statement (Partial) For the Year Ended December 31, 2025Income from…

Q: vidends of $ 50,000. Assuming Ryan uses the equity method, at December 31. Gosling reported net…

A: Lets understand the basics.When one entity has 20%-50% holding of another entity then both are known…

Q: Central Avenue Company reported net income of P700,000 for the year 2021. The entity declared and…

A: Retained earning means the amount of profit that has not been distributed to shareholder as divided.…

Q: Tanesha D Company Limited makes sales of $6,900,000 over the 2019 fiscal period. If the company…

A: Introduction:- “Du-Pont Analysis” is a method of performance measurement. It was started by the…

Q: The following is from the 2021 annual report of Kaufman Chemicals, Inc.: Statements of Comprehensive…

A: In business accounting, revenues, costs, gains, and loses that have yet to be recognized but aren't…

Q: For the year ended December 31, 2019, WQA company reported opening retained earnings of P1,850,000…

A: The reserve balance at December 31. 2020 = P35, 000

Q: Ayayai Company Limited reported the following for 2023: sales revenue, $1.16 million; cost of goods…

A: The income statement is a part of the financial statement as it reflects the financial performance…

Q: On January 1, 2018, La Carm Co. acquired 30,000 shares of Bora Inc.'s 75,000 shares outstanding for…

A: The process by which a business purchases another business, either to expand its current operations…

Q: The following information was obtained from the financial records of Roger Ltd for the year ended 30…

A: Statement showing changes in equity: It is a financial statement showing the details of the change…

Q: An investor company purchased 180,000 shares of common stock of the investee company on January 2,…

A: If an investor in a firm has considerable control over the company's operations and practices, the…

Q: nsive income? Use negative sign for the unrealized loss How much unrealized gain or loss on…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: For the year ended December 31, 2019, WQA Company reported opening retained earnings of P1,850,000…

A: Calculation of reserve balance at December 31 2021:       Unrealized gain from half old…

Q: What is the retained earnings balance on January 1,2019 before restatement? AL Company provided…

A: Retained earnings are the accumulated earnings in the business, which belongs to the owners and…

Q: On its December 31, 2020, balance sheet, Trump Company reported its investment in equity securities,…

A: The objective of the question is to determine how the Trump Company should report the change in fair…

Q: Fisafolia Corporation has gross income from operations of $426,600 and operating expenses of…

A: Dividend Dividend is considered to be one of the important part in the investment of assets to the…

Q: What effect will this error have on Aponte's 2020 Net Income? Select one: a. Will be underestimated…

A:

Q: III Listen Lansing Corporation declared and paid preferred dividends of $50,000 in 2019. There were…

A: Earnings per share is the income earned by the company per share outstanding. The higher the income…

Q: In 2021, Zoom corporation has gross income of $350,000, operating expenses of $280,000 and a…

A: Net operating loss deduction: It implies to a tax credit that is available to a business as a result…

Q: MD Corp. completed the following transactions relating to investment in AO Company ordinary shares,…

A: Where shares are held as investments for short-term (current assets), the shares are recorded at…

Q: &J Corporation has a year-end retained earnings balance of 210000 for 2020. The corporation paid…

A: The beginning balance of retained earnings can be back calculated with the help of net income and…

Q: Based on the data above, Retained Earnings at December 31, 2020 was O $951,920 O $952,220 O $948,920…

A: Retained earning means amount of profit remain after all the adjustment of expense and adjustments.

Q: Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49.…

A: Organisations utilise a multi-step income statement as a financial document to calculate and present…

Q: Barb's Bait Corporation has operating income of $0.95 million, a loss on sale of investments of…

A: The company's financial performance over a specific time period is explained in an income statement.…

Q: In 2020, Merced, Inc. (a C-corporation) had net operating income of $20,000.  During 2021, Merced…

A: Merced, Inc. (C Corporation) : Net Operating Income = $ 20,000 Long term capital gains = $ 50,000…

Q: Use the info below to answer the following questions: On January 2, 2021, Pirate, Inc. purchased a…

A: The equity method is an accounting technique used to account for investments in which an investor…

Q: For the year ended December 31, 2019, WQA Company reported opening retained earnings of P1,850,000…

A:

Q: On January 1, 2021 Phillip Enterprises showed total assets of P5,000,000 and total liabilities and…

A: Owner equity means the amount that belong to the owner of the business.  Any profit will increase…

Q: what is the post-tax loss from discontinued operation for 2020?

A: Statement of comprehensive income shows the net income/(loss) arising from continuing operations as…