Do not give answer in image Prepare the shareholders' equity section of Pronghorn's SFP at December 31, 2020. The company follows IFRS.PRONGHORN CORPORATIONShareholders' Equity8VV Pronghorn Corporation's post-closing trial balance at December 31, 2020, was as follows:PRONGHORN CORPORATIONPost-Closing Trial BalanceDecember 31, 2020Accounts payableAccounts receivableAccumulated depreciation-buildingsAccumulated other comprehensive incomeAllowance for doubtful accountsBonds payableBuildingsCashCommon sharesContributed surplus-commonDividends payable on preferred sharesInventoryFV-NI investmentsLandPreferred sharesPrepaid expensesRetained earningsTreasury shares (14,000 common shares)TotalsAuthorizedIssuedOutstandingCommon Preferred610,000240,000226,000Debit61,00011,90011,900S 480,0001.420,000185,000360,000240,000480,00048,000SCredit260,000180,000100,00026,000At December 31, 2020, Pronghorn had the following numbers for its common and preferred shares:260,000240,0001,430,0003,650547,400417,950252,000$ 3,465,000 $ 3,465,000The dividends on preferred shares are $6 cumulative. In addition, the preferred shares have a preference in liquidation of $46 pershare.

Stockholders' equity refers to the assets remaining in a business once all liabilities have been…

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FINANCIAL ACCOUNTING

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Author:Libby

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Chapter1: Financial Statements And Business Decisions

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For the year ended December 31, 2020, Ivanhoe Company reported the following: Net income Preferred dividends declared Common dividend declared Unrealized holding loss, AFS debt security Retained earnings Common stock Accumulated Other Comprehensive Income, Beginning Balance $310000 $30600 $25300 $20000 $5300 49900 10700 5300 391000 210000 25300 What would Ivanhoe report as its ending balance of Accumulated Other Comprehensive Income?
Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2019, 2020, and 2021. RENN-DEVER CORPORATION Statenents of Retained Earnings For the Years Ended Decenber 31 2020 66,894,692 45,524, 452 $5,674, 552 2,290, 900 2021 2019 Balance at beginning of year Net incone (loss) Deductions: Stock dividend (35,000 shares) Common shares retired, September 30 (120, 000 shares). Common stock cash dividends Balance at end of year 3,313, 700 (150, 100) 247,000 217,660 703, 000 66,894, 692 45, 524, 452 894,950 $9,066, 442 At December 31, 2018, paid-in capital consisted of the following: Common stock, 1,870,000 shares at 61 par Paid in capital-exces of par 61,870,000 7,470, 000 No preferred stock or potential common shares were outstanding during any of the periods shown. Required: Compute Renn-Dever's earnings per share as it would have appeared in income statements for the years ended December 31, 2019, 2020, and 2021.…
What is the Retained earnings - 2020 (restated)?
Bruno Corporation's post-closing trial balance at December 31, 2020, is shown as follows. Bruno CorporationPost-Closing Trial BalanceDecember 31, 2020 00 Dr. 0000 Cr. Accounts payable 00 $ 310,000 Accounts receivable $ 480,000 00 Accumulated depreciation—buildings 00 185,000 Additional paid-in capital in excess of par—common 00 1,300,000 00From treasury stock 00 160,000 Allowance for doubtful accounts 00 30,000 Bonds payable 00 300,000 Buildings 1,450,000 00 Cash 190,000 00 Common stock ($1 par) 00 200,000 Dividends payable (preferred stock—cash) 00 4,000 Inventory 560,000 00 Land 400,000 00 Preferred stock ($50 par) 00 500,000 Prepaid expenses 40,000 00 Retained earnings 00 301,000 Treasury stock (common at cost) 00.170,000 00000000. 00Totals $3,290,000 $3,290,000 At December 31, 2020, Bruno had the following number of common and preferred shares. 00 0000 Common 0000 Preferred Authorized…
A comparative balance sheet for Gena Company appears below:GENA COMPANYComparative Balance SheetDec. 31, 2021 Dec. 31, 2020AssetsCash $ 34,000 $11,000Accounts receivable 21,000 13,000Inventory 35,000 17,000Prepaid expenses 6,000 9,000Long-term investments -0- 17,000Equipment 60,000 33,000Accumulated depreciation—equipment (20,000) (15,000)Total assets $136,000 $85,000Liabilities and Stockholders' EquityAccounts payable $ 17,000 $ 7,000Bonds payable 36,000 45,000Common stock 53,000 23,000Retained earnings 30,000 10,000Total liabilities and stockholders' equity $136,000 $85,000Additional information:1. Net income for the year ending December 31, 2021 was $35,000.2. Cash dividends of $15,000 were declared and paid during the year.3. Long-term investments that had a cost of $17,000 were sold for $14,000.4. Depreciation expense for the year was $5,000.InstructionsPrepare a full statement of cash flows for the year ended December 31, 2021, using the indirectmethod.
The following accounts are extracted from the books of X Inc. on December 31, 2020: Account Receivable Se0.000 Aocounts Payable e 75,000 Accumulated Dpreciation: Land Improvement 160.000 Allowance for Doubtful Accounts 26,000 Aeerued Liahilities 204.000 Bonds Payable 373,000 Hond Sinking Fund 220,000 Cash 140,000 lavestment in Stock 132.000 Common Stock 414,000 Goodwill laventory 322,000 Land 260,000 Land held for spelation 88,000 Land Improvement 700,000 Mortgage Payable 176,000 Premium on Bonds Payable 36,000 Promium on Common Stock 276,000 Prepaid Insuranee (24 months) 40,000 Retained Eamings 440,000 Supplies 16,000 Trading Securities, originally purchased at S70,000, are raded at a fair Valae of S88,000 Treasury Stock Uncamed Service Revenue ?? Based on the data above, current assets were: * $582,000 $600,000 $626,000 None of the above
View Policies Current Attempt in Progress The following information was extracted from the accounts of Sandhill Co. at December 31, 2020: CR(DR). Total reported income since incorporation $4810000 Total cash dividends paid (2480000) Unrealized holding loss on available-for-sale securities (368000) Total stock dividends distributed (604000) Prior period adjustment, recorded January 1, 2020 226000 What should be the balance of retained earnings at December 31, 2020? O $1876000. O $ 1584000. O $ 1952000. O $ 3042800. Save for Later Attempts: 0 of 1 used Submit Answ
The following are Grouper Corp's comparative balance sheet accounts at December 31, 2020 and 2019, with a column showing the increase (decrease) from 2019 to 2020. Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Investment in Myers Co. Loan receivable Total assets Accounts payable Income taxes payable Dividends payable Lease liabililty Common stock, $1 par Paid-in capital in excess of par-common stock Retained earnings Total liabilities and stockholders' equity Additional information: 1. COMPARATIVE BALANCE SHEETS 2. 2020 $815,400 1,121,200 1,862,000 3,287,700 (1,175,000 ) 309,300 248,600 $6,469,200 $1,013,800 29,900 80,700 409,300 500,000 1,497,600 2,937,900 $6,469,200 2019 $702,000 1,174,200 1,719,800 2,938,200 (1,047,300 ) 273,800 $5,760,700 $952,700 50,200 99,000 500,000 1,497,600 2,661,200 $5,760,700 Increase (Decrease) $113,400 (53,000) 142,200 349,500 (127,700 ) 35,500 248,600 $708,500 $61,100 (20,300 ) (18,300 ) 409,300 276,700…
How much is the retained earnings – appropriated? 2. How much is the total legal capital of BEBEBOY?
The comparative statements of financial position of Amman Inc. at the beginning and the end of the year 2020 appear as follows: Total Equipment Less: Accumulated Depreciation-Equip. Accounts receivable Cash Assets Note: Share capital-ordinary Retained earnings Accounts payable Total STATEMENT Equity and Liabilities Instructions: AMMAN INC. OF FINANCIAL POSITION Jan.1, 2020 Dec. 31, 2020 $39.000 (17,000) 91,000 45,000 $158,000 $100,000 38,000 20,000 $158,000 $22,000 (11,000) 88,000 13,000 $112,000 Prepare a statement of cash flows for the year 2020. $80,000 17,000 15,000 $112,000 Increase / Decease $17,000 Inc. 6,000 Inc. 3,000 Inc. 32,000 Inc. Net income of $ 34,000 was reported, and dividends of $ 13,000 were paid in 2020. New equipment was purchased, and none was sold. 20,000 Inc. 21,000 Inc. 5,000 Inc.
What is the RESTATED retained earnings in 2019 and 2020?
The comparative balance sheets for Metlock Corporation show the following information. December 312020 2019Cash $33,500 $12,900Accounts receivable 12,400 10,000Inventory 12,100 9,000Available-for-sale debt investments –0– 3,000Buildings –0– 29,800Equipment 44,800 19,900Patents 5,000 6,300 $107,800 $90,900Allowance for doubtful accounts $3,100 $4,500Accumulated depreciation—equipment 2,000 4,500Accumulated depreciation—building –0– 6,000Accounts payable 5,000 3,000Dividends payable –0– 4,900Notes payable, short-term (nontrade) 3,000 4,100Long-term notes payable 31,000 25,000Common stock 43,000 33,000Retained earnings 20,700 5,900 $107,800 $90,900 Additional data related to 2020 are as follows. 1. Equipment that had cost $11,000 and was 40% depreciated at time of disposal was sold for $2,500.2. $10,000 of the long-term note payable was paid by issuing common stock.3. Cash dividends paid were $4,900.4. On January…

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Prepare the shareholders' equity section of Pronghorn's SFP at December 31, 2020. The company follows IFF PRONGHORN CORPORATION Shareholders' Equity A v