Swifty Limited reported the following for 2023: sales revenue, $920,000; cost of sales, $742,000; operating expenses, $102,000; and unrealized gain on FV-OCI investments, $60,800. The company had January 1, 2023 balances as follows: common shares, $800,000; accumulated other comprehensive income, $330,000; and retained earnings, $920,000. The company did not issue any shares during 2023. On December 15, 2023, the board of directors declared a $290,000 dividend payable on January 31, 2024. Prepare a statement of changes in equity. Ignore income tax. Beginning Balance Comprehensive Income: Net Income /(Loss) Other Comprehensive Income Dividends Ending Balance $ $ Swifty Limited Statement of Changes in Shareholders' Equity Common Shares $ $ Retained Earnings $ $ Accumulated Other Comprehensive Income
Swifty Limited reported the following for 2023: sales revenue, $920,000; cost of sales, $742,000; operating expenses, $102,000; and unrealized gain on FV-OCI investments, $60,800. The company had January 1, 2023 balances as follows: common shares, $800,000; accumulated other comprehensive income, $330,000; and retained earnings, $920,000. The company did not issue any shares during 2023. On December 15, 2023, the board of directors declared a $290,000 dividend payable on January 31, 2024. Prepare a statement of changes in equity. Ignore income tax. Beginning Balance Comprehensive Income: Net Income /(Loss) Other Comprehensive Income Dividends Ending Balance $ $ Swifty Limited Statement of Changes in Shareholders' Equity Common Shares $ $ Retained Earnings $ $ Accumulated Other Comprehensive Income
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Swifty Limited reported the following for 2023: sales revenue, $920,000; cost of sales, $742,000; operating expenses, $102,000; and
unrealized gain on FV-OCI investments, $60,800. The company had January 1, 2023 balances as follows: common shares, $800,000;
accumulated other comprehensive income, $330,000; and retained earnings, $920,000. The company did not issue any shares during
2023. On December 15, 2023, the board of directors declared a $290,000 dividend payable on January 31, 2024.
Prepare a statement of changes in equity. Ignore income tax.
Beginning Balance
Comprehensive Income:
Net Income /(Loss)
Other Comprehensive Income
Dividends
Ending Balance
$
Swifty Limited
Statement of Changes in Shareholders' Equity
Common Shares
Retained Earnings
+A
$
Accumulated Other
Comprehensive Income
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