The following was reported by Church Financial in its December 31, 2024, financial statements: Investments at FVTPL, December 31, 2023 Investments at FVTPL, December 31, 2024 Investment income or (loss) Additional information: 1. 2. 3. $13,400 18,300 (600) The investments at FVTPL are investments in equity securities held for trading purposes. Investment income or loss consists of: holding gain on the FVTPL investments of $3,100, and loss on sale of the FVTPL investments of $3,700. The carrying amount of the FVTPL investment sold was $4,900.

The following was reported by Church Financial in its December 31, 2024, financial statements: Investments at FVTPL, December 31, 2023 Investments at FVTPL, December 31, 2024 Investment income or (loss) Additional information: 1. 2. 3. $13,400 18,300 (600) The investments at FVTPL are investments in equity securities held for trading purposes. Investment income or loss consists of: holding gain on the FVTPL investments of $3,100, and loss on sale of the FVTPL investments of $3,700. The carrying amount of the FVTPL investment sold was $4,900.

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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Similar questions

Realized gains and losses are recorded on the incomestatement for which of the following transactions in trading securities and available-for-sale securities?a. When adjusting trading securities to fair value.b. When adjusting available-for-sale securities to fair value.c. Only when recording the sale of trading securities.d. When recording the sale of either trading securities oravailable-for-sale securities
View Policies Current Attempt in Progress For each of the following transactions, classify it as an operating, investing, financing, or significant noncash investing and financing activity or "none of the above" and assuming the company follows ASPE. (a) Repayment of mortgage payable (b) Payment of interest on mortgage (c) Purchase of land in exchange for common shares (d) Issue of preferred shares for cash (e) Payment for the purchase of a trading investment (f) Collection of accounts receivable (g) Declaration of cash dividend (h) Payment of cash dividend (i) Cash purchase of inventory (i) Recording of depreciation expense (k) Purchase and cancellation of common shares
Sunland Company reported the following information for 2025: Sales revenue Cost of goods sold Operating expenses Unrealized holding gain on available-for-sale debt securities Cash dividends received on the securities O $490300. O $404600. $480700. $2420000 O $85700. 1754000 271000 85700 For 2025, Sunland would report comprehensive income (ignoring tax effects) of 9600
Provide Answer for A and B
Presented here are the financial statements of Sunlard Cornpany.SINI.AND COWANYConvaratWeD«rnber 31CashAccounts receivableInventccyProperty. plant. equipmentAccumu lated depreciationTotalLiabilities and Stockholders' EquityAccounts payableIncome taxes payableBonds payableCommon stockRetained earningsTotal537.400329003060059.700(29.100)"31500S2&3007.50027.9001860049.200S1315002021S20.soo20.00077.900(23500)S113000s 16.5003280014.20041300Silaooo
Assets Current assets: Cash Marketable securities Accounts receivable (net) Inventory Total current assets Investments Plant and equipment Less: Accumulated depreciation Net plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Notes payable Accrued taxes Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity Preferred stock, $ 50 par value Common stock, $ 1 par value Capital paid in excess of par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 611,000 272,000 $ 52,500 22,500 178,000 290,000 $ 543,000 66,200 339,000 $948,200 $ 95,100 78,700 12,000 $ 185,800 159,400 $ 345,200 $ 100,000 80,000 190,000 233,000 $ 603,000 $948,200
I need the retained earnings.