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Business, 27.03.2020 02:30 turtle12102
During 2020: Sales revenue $880,000, interest revenue $30,000 ; rent revenue $160,000; Dividend Revenue $80,000; sales Returns & Allowances $25,000; Sales discounts $70,000; COGS $350,000; Selling exp $100,000; General Administrative expenses $80,000; Interest expense $70,000; Loss on sale of Investments $60,000; Restructuring Costs $75,000; Gain on sale of compenant that qualifies as a discontinued ops $150,000; Write down of inventory $50,000; foreign currency translation gain $20,000; unrealized gain in value of land $50,000; .Unrealized gain in the value of patents $50,000; unrealized loss in value of available for sale securities $60,000 ; Additional information: Tax rate is 20% The company issues 50,000 shares on 10/1/20 for $250,000. The company issues 20,000 shares on 7/1/20 for equipment that has a fair value of $100,000 The company declared dividends of $100,000 of which $25,000 will be paid on 1/31/21. Prepare a statement of comprehensive income utilizing the multiple step income statement approach. Prepare a statement of shareholders' equity.
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During 2020: Sales revenue $880,000, interest revenue $30,000 ; rent revenue $160,000; Dividend Reve...
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