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Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
النسخة 26الرقم المعياري الدولي: 978-1337498159Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
النسخة 26الرقم المعياري الدولي: 978-1337498159 تمرين 7
Balance sheet presentation, trading investments
The income statement for Delta-tec Inc. for the year ended December 31, Year 2, was as follows:
The balance sheet dated December 31, Year 1, showed a Retained Earnings balance of $825,000. During Year 2, the company purchased trading investments for the first time at a cost of $346,000. In addition, trading investments with a cost of $66,000 were sold at a gain during Year 2. The company paid $65,000 in dividends during Year 2.
a. Determine the December 31, Year 2, Retained Earnings balance.
b. Provide the December 31, Year 2, balance sheet presentation for Trading Investments.
The income statement for Delta-tec Inc. for the year ended December 31, Year 2, was as follows:
The balance sheet dated December 31, Year 1, showed a Retained Earnings balance of $825,000. During Year 2, the company purchased trading investments for the first time at a cost of $346,000. In addition, trading investments with a cost of $66,000 were sold at a gain during Year 2. The company paid $65,000 in dividends during Year 2.
a. Determine the December 31, Year 2, Retained Earnings balance.
b. Provide the December 31, Year 2, balance sheet presentation for Trading Investments.
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Balance sheet presentation, tr...
Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
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