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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

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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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
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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