What is the amount of comprehensive income?

Q: For 2018, Sabil Corporation earned net income of $480,000 and paid dividends of $18,000. At January…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: Honest Company had the following activities during the current year: • Acquired shares in…

A: Cash Flow Statement represents the flow of cash during the accounting period. There are three…

Q: During the year 2018 Nestle sold 3,000 shares of LJ, Inc. for P119,700 and 500 shares of Dwarfy…

A: Carrying amount of 3000 shares of LJ Inc = P 180,000 Sale Consideration of 3000 shares of LJ Inc = P…

Q: Turner Company owns 35% of the outstanding stock of ICA Company. During the current y its common…

A: Financial statements are created in line with accounting rules and laws, and they give a detailed…

Q: stock and P1,400,000 of retained earni O from its separate operations and pai reported income of…

A: The right answer is option D. P962,400

Q: On Jan. 1, 2021, Bee Co. settled a P 1,000,000 loan by issuing to the lender 10,000 shares with par…

A: The loan is the amount in which one party lends money to another party. The money is lent for a…

Q: Flounder Limited has 55,500 common shares outstanding, with an average issue price per share of $6.…

A: In case of  reacquisition of shares which is also known as share buyback or stock repurchase, occurs…

Q: Jaybu Company acquired the following portfolio of equity instruments held for trading during 2022…

A: If equity instruments are held for trading then on each reporting date, investments are reported at…

Q: Pharoah Corporation has income from continuing operations of $278,400 for the year ended December…

A: PHAROAH CORPORATION Income Statement (Partial) For the Year Ended December 31, 2025Income from…

Q: purchased another 300 shares of Semi-Tech for $7,200 and s of the following ways will the loss on…

A: Adjusted cost base is the purchase price of the share adjusted by dividends, bonus, share splits…

Q: Judd, Inc. owns 35% of Crosby Corporation. During the calendar year 2025, Crosby had net earnings of…

A: Note : If an investor owns more than 30% of corporation, Investor has to record these transactions…

Q: Concord Corporation has $3070000 of short-term debt it expects to retire with proceeds from the sale…

A: Current liabilities can be defined as a short-term obligations which a company is require to fulfil…

Q: On January 1, 2001, X.Co purchased marketable equity securities at its market value of P5,000,000,…

A: Investment in securities means where the company purchased the share or other securities of other…

Q: Clip Company had the following activities during the current year: Acquired shares in Paper…

A: Cash Flow Statement is a statement which shows the flow of cash during the accounting period. The…

Q: During the year, Honest received P100,000 of interest. • Collected dividends of P75,000 on share…

A: The calculation of the amount that should be reported as net cash used in investing activities is…

Q: Boulter, Incorporated, began business on January 1, 2024. At the end of December 2024, Boulter had…

A: The objective of the question is to determine how the losses from the investments in debt securities…

Q: On March 31, 2024, Chow Brothers, Incorporated, bought 6% of KT Manufacturing's capital stock for…

A: The objective of the question is to prepare the journal entries for the investment made by Chow…

Q: CASE 3 (QS 17-19); Casper Co. paid $2,400,000 to acquire all of the common stock of Janet Corp. on…

A: Step 1: Understanding the meaning of the consolidation statement: When one entity acquires another…

Q: During 2024, R2D2 Company purchased 10,000 shares of Goliath, Inc. for $30 per share and classified…

A: Unrealized profit and loss means The value of an investment that has not yet been sold or realized…

Q: On December 31, 2017, PanTech Company invests $36,000 in SoftPlus, a variable interest entity. In…

A: SOLUTION FINANCIAL STATEMENT ARE WRITTEN RECORDS THAT CONVEY THE BUSINESS ACTIVITIES AND THE…

Q: On its December 31, 2020, balance sheet, Trump Company reported its investment in equity securities,…

A: The objective of the question is to determine how the Trump Company should report the change in fair…

Q: Required: 1. Prepare the appropriate journal entry for each transaction or event during 2024, as…

A: Journal Entry is the primary step to recording the transaction in the books of accounts.Income…

Q: In your audit of JJC Corporation you have found the following information: On January 1, 2022, JJC…

A: Investment in Shares Investment in shares which is acquired from the other corporate entity with…

Q: Ashvinbhai

A: Step 1:Answer-a) DateAccounts TitlesDebitCredit31 DecemberUnrealized Gain/Loss ($94,000 -…

Q: Part A Al Salam Company began operations in 2016. Since then, it has reported the following gains…

A: Hello. Since you have posted multiple questions and not specified which question needs to be solved,…

Q: Sunland Technologies Inc. held a portfolio of shares and bonds that it accounted for using the fair…

A: A journal entry is a basic accounting record that is used to chronologically track financial…

Q: 2 Your answer is incorrect. The following information relates to Sweet Co. for the year ended…

A: Comprehensive income comprises of the income from all the sources which is caused by the change in…

Q: Bonita Industries reported net income of $537000 for the year ended 12/31/21. Included in the…

A: The question is based on the concept of Cashflow statements.

Q: Turner Company owns 10% of the outstanding stock of ICA Company. During the current year, ICA paid a…

A: Turner Company owns 10% of the outstanding shares of ICA Company.Turner lacks substantial control…

Q: On January 1, 2022, Old Corp. paid P500,000 for 20,000 shares of Hannah Corp.'s ordinary shares and…

A: Held for Trading security means a debt or equity investment that investors purchase with an…

Q: Choco Company’s current receivables from affiliated companies at December 31, 2011 are (1) a…

A: AR termed as Accounts receivable refers to the amount of money which is due to the business for…

Q: On December 31, 2022, Oriole Corporation had 144,000 common shares outstanding. On April 30, 2023,…

A: Weighted average number of common shares is the number of common shares of a company calculated…

Q: On January 1, 2023, Cullumber Corp. had cash and common shares of $80,000. At that date, the company…

A: Income statement: A statement showing the firm’s revenue and expenses over a specified period,…

Q: 00 in 2017. 70 shares for $2,250 in 2018. 80 shares for $2,675 in 2019. They sold 160 shares of…

A: Answer :The basis used in the sale of share is FIFO basis. In FIFO method it is assumed that first…

Q: Lexington Co. has the following securities outstanding on December 31, 2017 (its first year of…

A:

Q: Ruiz Company puchased 30 per cent of Sim Company’s outstanding common stock for $3,000,000 and uses…

A: For 2018 Income from Equity Investment = Net income x Ownership Percentage Income from Equity…

Q: Shanghai Company is unable to meet interest payments and fund requirements to retire its P1,500,000…

A: Total amount payable = bonds payable + Accrued interest = P1,500,000  + P150,000 = P1,650,000

Q: Katrina & Co. has encountered financial difficulties and has become unable to retire its P1,500,000…

A: Conversion of debt into shares: It is  the reorganization of a distressed company's outstanding…

Q: What amount should Fisher report as its Investment in Steel on its December 31, 2015, balance sheet?…

A: Investments:   Companies invest in stocks and bonds of other companies or governmental entity to…