3. Majaan Company reported the following information for 2010Sales revenue$500,000Unrealized holding gain on available-for-salesecurities 20,000Cash dividends received on the securities 2,000Cost of goods sold350,000Operating expenses55,000For 2010 Majaan would report comprehensive income of....4. Net income minus preferred dividends divided by the weighted average of sharesoutstanding....5. Reem.'s trial balance reflected the following account balances at December 31,2020:Accounts receivable (net) $24,000Equipment 25,000Trading securities 6.000Patent 4,000Accumulated depreciation on equipment and furniture 15,000Prepaid expenses 2,000Cash 11,000Land held for future business site 18,000Inventory 30,000In Reem's December 31, 2020 balance sheet, the current assets total is 9. Which of the following is a change in accounting principle?a. a change in the estimated service life of machineryb. a change from FIFO to LIFOc. a change from straight-line to double-declining-balanced. a change from FIFO to LIFO and a change from straight-line to double-declining-balance10. For Mortenson Company, the following information is available:Cost of goods sold$ 60,000Income tax expense 6,000Dividend revenue2,500Operating expenses 23,000Sales 100,000In Mortenson's multiple-step income statement, gross profit:a. should not be reportedb. should be reported at $13,500.c. should be reported at $40,000.d. should be reported at $42,500.3.

3) Comprehensive Income = Net Income + Other Comprehensive Income 4) Basic Earnings per share = Net…

3. Majaan Company reported the following information for 2010 Sales revenue$500,000 Unrealized holding gain on available-for-sale securities 20,000 Cash dividends received on the securities 2,000 Cost of goods sold350,000 Operating expenses55,000 For 2010 Majaan would report comprehensive income of... 4. Net income minus preferred dividends divided by the weighted average of shares outstanding..... 5. Reem.'s trial balance reflected the following account balances at December 31, 2020:

3. Majaan Company reported the following information for 2010 Sales revenue$500,000 Unrealized holding gain on available-for-sale securities 20,000 Cash dividends received on the securities 2,000 Cost of goods sold350,000 Operating expenses55,000 For 2010 Majaan would report comprehensive income of... 4. Net income minus preferred dividends divided by the weighted average of shares outstanding..... 5. Reem.'s trial balance reflected the following account balances at December 31, 2020:

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter17: Financial Statement Analysis

Section: Chapter Questions

Problem 4AP

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