Vala On 31 December 20X2, the balances of Argon Enterprises Inc.'s shareholders' equity accounts were as follows (all are credit balances):Capital stockContributed surplusRetained earningsCurrency translation differencesMark-to-market adjustments on available for sale investmentsCash flow hedgesActuarial gains and lossesArgon's statement of comprehensive income for the year ending 31 December 20X3 showed the following amounts, from "net profitfor the year" through "comprehensive income":Net profit for the yearOther comprehensive income (loss) net of applicable income tax:Currency translation differencesMark-to-market adjustments on available for sale investmentsActuarial gains (losses)Cash flow hedgesTotal other comprehensive loss for the yearComprehensive income for the yearBalance, 31 Dec 20X2Net profitCurrency changesMark-to-market adj.Actuarial gainsCash flow hedgesBalance 31 Dec 20X3Argon Enterprises Inc.Statement of Changes in EquityYear Ended 31 December 20X3(amounts in thousands of Canadian dollars)Share CapitalCapital Contributed RetainedStock Surplus Earnings0.000.00Required:Prepare a statement of changes in equity for Argon Enterprises Inc. for the year ended 31 December 20X3. The company declared nodividends during either 20X2 or 20X3. (Enter answer in thousands, not in million or in whole Canadian dollars. Negative amountsshould be Indicated by a minus sign.)0.00CCTD0.00$ 309,0009,000124,0002,10029,8002,7802,200$ 478,800Cash FlowHedges31December20x3$ 48,7000.00(4,800)(37,400)2,400(560)$(40,360)$ 8,340Accumulated OCIAFSFinancialAssets31December0.0020x2$ 62,4002,8007,800(6,500)(270)$ 3,830$ 66,230ActuarialGains andLosses0.00Total0.000.000.000.000.000.000.00

Solution:Statement of changes in equity:Capital stockContributed surplus Property…

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

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 40E: Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for...

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