subject
Business, 19.10.2021 03:10 pimuang50

Duke Company’s records show the following account balances at December 31, 2021: Sales revenue $ 17,000,000 Cost of goods sold 10,000,000 General and administrative expense 1,100,000 Selling expense 600,000 Interest expense 800,000 Income tax expense has not yet been determined. The following events also occurred during 2021. All transactions are material in amount. $400,000 in restructuring costs were incurred in connection with plant closings. Inventory costing $500,000 was written off as obsolete. Material losses of this type are considered to be unusual. It was discovered that depreciation expense for 2020 was understated by $60,000 due to a mathematical error. The company experienced a negative foreign currency translation adjustment of $300,000 and had an unrealized gain on debt securities of $280,000. Required: Prepare a single, continuous multiple-step statement of comprehensive income for 2021. The company’s effective tax rate on all items affecting comprehensive income is 25%. Each component of other comprehensive income should be displayed net of tax. Ignore EPS disclosures. (Amounts to be deducted should be indicated with a minus sign.)

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 16:10
Martinez manufacturing applies overhead based on direct labor hours. the company estimates that their overhead for the year will be $180,000, and that they will use 72,000 direct labor hours. during the year, martinez manufacturing actually used 75,000 direct labor hours and actual overhead costs were $190,000. at the end of the year, manufacturing overhead was: overapplied by $2,500. overapplied by $10,000. underapplied by $2,500. underapplied by $10,000.
Answers: 2
question
Business, 22.06.2019 15:30
Calculate the required rate of return for climax inc., assuming that (1) investors expect a 4.0% rate of inflation in the future, (2) the real risk-free rate is 3.0%, (3) the market risk premium is 5.0%, (4) the firm has a beta of 2.30, and (5) its realized rate of return has averaged 15.0% over the last 5 years. do not round your intermediate calculations.
Answers: 3
question
Business, 22.06.2019 20:00
A$100 million interest rate swap has a remaining life of 10 months. under the terms of the swap, the six-month libor is exchanged semi-annually for 12% per annum. the six-month libor rate in swaps of all maturities is currently 10% per annum with continuous compounding. the six-month libor rate was 9.6% per annum two months ago. what is the current value of the swap to the party paying floating? what is its value to the party paying fixed?
Answers: 2
question
Business, 23.06.2019 03:00
If big macs were a durable good that could be costlessly transported between countries, which of the following would present an arbitrage opportunity? check all that apply. exporting big macs from argentina to the united states. exporting big macs from the united kingdom to poland. exporting big macs from switzerland to china
Answers: 1
You know the right answer?
Duke Company’s records show the following account balances at December 31, 2021: Sales revenue $ 17,...
Questions
question
Mathematics, 03.02.2021 03:30
question
Mathematics, 03.02.2021 03:30
question
Mathematics, 03.02.2021 03:30
Questions on the website: 13722363