On 31 December 20X2, the balances of Argon Enterprises Inc.'s shareholders' equity accounts were as follows (all are credit balances): Capital stock Contributed surplus Retained earnings Currency translation differences Mark-to-market adjustments on available for sale investments Cash flow hedges Actuarial gains and losses Argon's statement of comprehensive income for the year ending 31 December 20X3 showed the following amounts, from "net profit for the year" through "comprehensive income": Net profit for the year. Other comprehensive income (loss) net of applicable income tax: Currency translation differences $ 309,000 9,000 124,000 2,100 29,800 2,700 2,200 $ 478,800 Mark-to-market adjustments on available for sale investments Actuarial gains (losses) Cash flow hedges Total other comprehensive loss for the year. Comprehensive income for the year 31 December 20X3 $ 48,700 (4,800) (37,400) 2,400 (560) $(40,360) $ 8,340 31 December 20x2 $ 62,400 2,800 7,800 (6,500) (270) $ 3,830 $ 66,230
On 31 December 20X2, the balances of Argon Enterprises Inc.'s shareholders' equity accounts were as follows (all are credit balances): Capital stock Contributed surplus Retained earnings Currency translation differences Mark-to-market adjustments on available for sale investments Cash flow hedges Actuarial gains and losses Argon's statement of comprehensive income for the year ending 31 December 20X3 showed the following amounts, from "net profit for the year" through "comprehensive income": Net profit for the year. Other comprehensive income (loss) net of applicable income tax: Currency translation differences $ 309,000 9,000 124,000 2,100 29,800 2,700 2,200 $ 478,800 Mark-to-market adjustments on available for sale investments Actuarial gains (losses) Cash flow hedges Total other comprehensive loss for the year. Comprehensive income for the year 31 December 20X3 $ 48,700 (4,800) (37,400) 2,400 (560) $(40,360) $ 8,340 31 December 20x2 $ 62,400 2,800 7,800 (6,500) (270) $ 3,830 $ 66,230
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On 31 December 20X2, the balances of Argon Enterprises Inc.'s shareholders' equity accounts were as follows (all are credit balances):
Capital stock
Contributed surplus
Retained earnings
Currency translation differences
Mark-to-market adjustments on available for sale investments
Cash flow hedges
Actuarial gains and losses
Argon's statement of comprehensive income for the year ending 31 December 20X3 showed the following amounts, from "net profit
for the year" through "comprehensive income":
Net profit for the year
Other comprehensive income (loss) net of applicable income tax:
Currency translation differences
Mark-to-market adjustments on available for sale investments
Actuarial gains (losses)
Cash flow hedges
Total other comprehensive loss for the year
Comprehensive income for the year
Balance, 31 Dec 20X2
Net profit
Currency changes
Mark-to-market adj.
Actuarial gains
Cash flow hedges
Balance 31 Dec 20X3
Argon Enterprises Inc.
Statement of Changes in Equity
Year Ended 31 December 20X3
(amounts in thousands of Canadian dollars)
Share Capital
Capital Contributed Retained
Stock Surplus Earnings
0.00
0.00
Required:
Prepare a statement of changes in equity for Argon Enterprises Inc. for the year ended 31 December 20X3. The company declared no
dividends during either 20X2 or 20X3. (Enter answer in thousands, not in million or in whole Canadian dollars. Negative amounts
should be Indicated by a minus sign.)
0.00
CCTD
0.00
$ 309,000
9,000
124,000
2,100
29,800
2,780
2,200
$ 478,800
Cash Flow
Hedges
31
December
20x3
$ 48,700
0.00
(4,800)
(37,400)
2,400
(560)
$(40,360)
$ 8,340
Accumulated OCI
AFS
Financial
Assets
31
December
0.00
20x2
$ 62,400
2,800
7,800
(6,500)
(270)
$ 3,830
$ 66,230
Actuarial
Gains and
Losses
0.00
Total
0.00
0.00
0.00
0.00
0.00
0.00
0.00
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