Comprehensive income
• LO18–1
Schaeffer Corporation reports $50 million accumulated other comprehensive income in its
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- Ecobank Pole Pan African Bank S 740 5523 VISA Awa Taak Financial statement analysis. 2. Given below are the summarized accounts of Helper Ltd for the past five years. These form the basis for the questions which follow. Summarized profit and loss accounts of Belper Ltd 19X5 [000 Sales Cost of sales Trading profit Depreciation Interest Net profit before tax Taxation Net profit after tax Extraordinary items. Dividends Retained profits Retained at start of year Retained at end of year Fixed assets Freehold land and buildings Leasehold land and buildings 19X4 £000 Plant and machinery Total gross fixed assets gross Depreciation freehold Depreciation leasehold Depreciation plant, etc. Total depreciation Net fixed assets THIntangible fixed assets Goodwill Ahvestments 93,930 81,750 12.180 Patents and trade marks Current assets Stock 1,023 2,727 8,430 2,517 5,913 5,913 801 5.112 14,637 19,749 Summarized balance sheets of Belper Ltd 19X4 £000 117 4,197 4,314 20.175 116,232 101,673 14,559 1,380…arrow_forward7. What amount of consolidated retained earnings will be reported? A.P 295,000 C. P 232,000B. P 268,000 D. P 205,0008. What amount of stockholders; equity will be reported?A. P 355,000 C. P 419,500B. P 397,000arrow_forwardThe following data was taken from the accounting records of Pina Colada Corporation: Total assets Total liabilities Preferred shares Common shares Retained earnings Additional data: Net income Interest expense Sales revenue 2024 O 20.1% 21.1% 19.1% 18.1% 2023 $962000 $883000 271000 250000 81300 81300 303000 303000 The return on assets for 2024 is 306700 248700 167000 35500 981000arrow_forward
- Consider the following partial income statements and balance sheets for Lillard Corp. For the year ended December 31, Net income Less income attributable to noncontrolling 5,700 interests Net income attributable to Lillard Corp. 100,400 107,300 Lillard Corp. shareholders' equity Noncontrolling interests Total equity What is Lillard's return on equity for 2024? 11.7% O 11.5% 12.3% 11.9% 2024 2023 108,000 113,000 11.1% 7,600 Dec. 31, 2024 Dec. 31, 2023 861,000 888,000 32,400 30,600 893,400 918,600arrow_forward18 The classified balance sheet for a company reported current assets of $811,925, total liabilities of $399,770, Common Stock of $500,000, and Retained Earnings of $65,130. The current ratio was 2.5.What is the total amount of noncurrent assets? Multiple Choice $246,795 $412,155 $324,770 $152,975arrow_forwardPROBLEM 13.2A Reporting Investing Activities L LO13-4 An analysis of the income statement and the balance sheet accounts of Hampton, Inc., at December 31 of the current year, provides the following information. Page 611 Income statement items: Gain on Sale of Marketable Securities $ 42,000 Loss on Sales of Plant Assets 33,000 Analysis of balance sheet accounts: Marketable Securities account: Debit entries $ 75,000 Credit entries 90,000 Notes Receivable account: Debit entries 210,000 Credit entries 162,000 Plant and Equipment accounts: Debit entries to plant asset accounts 196,000 Credit entries to plant asset accounts 120,000 Debit entries to accumulated depreciation accounts 75,000arrow_forward
- Assuming a business entity has a total asset of 25,000,000 its total liabilities is 1/3 of the said amount. How much is the equity? 16,000,000,00 16,666,666.67 13,333,333.33 13,000,000.00arrow_forward36. ABC Industries has the following acount balances: S 75.000 $ 365,000 $ 297,000 $ 17,500 Retained eamings Revenue Operating Expenses Interest Expense Assume an income tax rate of 20%. What is the amount of income tax expense to be reported on the corporate income statement? a)$ 13,600. b)$ 15.000. c)$ 10,100. d)S 73.000.arrow_forwardThe following information pertains to BTS Co. for the year.· Net assets, Jan.1, 2021- P1,008,480· Net assets, Dec. 31. 2021- P2,112,960· Share capital issued in 2021- P335,520· Dividends declared in 2021- P195,120How much is the profit (loss)?arrow_forward
- Net Sales COGS Net Income Accounts Receivable Inventory Current Assets Fixed Assets Total Assets Current Liabilities Long-Term Debt Total Liabilities Shareholder's Equity Number of Shares Outstanding now Transcribed Text 1 10586 1582 2936 3333 1 7929 7294 15223 3026 288 3314 11909 7493 G C 2 4048 2025 21 230 44 299 1281 1580 369 245 614 966 48 Questions 1. What company collects its receivables the slowest? 2 w 3 213 66 7 9 16 68 12 80 23 1 24 56 24arrow_forwardThe following information relates to the Gates Corporation: Net assets, end of year P650,000 Net assets, beginning of year 300,000 Additional investment by shareholders 100,000 Dividends paid 150,000 Other comprehensive income for the year 80,000 Profit for the year is a. 350,000 b. 400,000 c. 320,000 d. 480,000arrow_forwardHelp me pleasearrow_forward
- Individual Income TaxesAccountingISBN:9780357109731Author:HoffmanPublisher:CENGAGE LEARNING - CONSIGNMENT