Prepare the Stockholders' Equity section of the balance sheet for December 31, Year 2.
Prepare the Stockholders' Equity section of the balance sheet for December 31, Year 2.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter3: Review Of A Company's Accounting System
Section: Chapter Questions
Problem 9RE: For the current year, Vidalia Company reported revenues of 250,000 and expenses of 225,000. At the...
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During Year 2, Copernicus Corporation held a portfolio of available-for-sale securities having a cost of $183,300. There were no purchases or sales of investments during the year. The market values at the beginning and end of the year were $216,300 and $174,100, respectively. The net income for Year 2 was $168,600, and no dividends were paid during the year. The
Copernicus Corporation Stockholders' Equity December 31, Year 1 |
||
Common stock | $38,000 | |
Paid-in capital in excess of par | 290,000 | |
381,300 | ||
Unrealized gain on available-for-sale investments | 33,000 | |
Total stockholders’ equity | $742,300 |
Prepare the Stockholders' Equity section of the balance sheet for December 31, Year 2.
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