Below are Financial Statements for Tableau Corporation. Tableau is a private company who is considering going...

   

Transcribed Image Text:

Below are Financial Statements for Tableau Corporation. Tableau is a private company who is considering going public. They have asked you to determine the impact on the net income and shareholders' equity if they move from ASPE to IFRS. Balance Sheet In 000s Year 7 Assets Cash Accounts receivable Inventory Loan Receivable Property Plant Equipment $ 5,000 185,000 210,000 100,000 375,000 S 875,000 Liabilities & Shareholders' Equity Accounts Payable Income tax Payable Loan Payable Bonds Payable Common Shares Retained Earnings $179,000 46,000 100,000 180,000 170,000 200,000 $ 875.000 Below are Financial Statements for Tableau Corporation. Tableau is a private company who is considering going public. They have asked you to determine the impact on the net income and shareholders' equity if they move from ASPE to IFRS. Balance Sheet In 000s Year 7 Assets Cash Accounts receivable Inventory Loan Receivable Property Plant Equipment $ 5,000 185,000 210,000 100,000 375,000 S 875,000 Liabilities & Shareholders' Equity Accounts Payable Income tax Payable Loan Payable Bonds Payable Common Shares Retained Earnings $179,000 46,000 100,000 180,000 170,000 200,000 $ 875.000

Answer rating: 100% (QA)

Changes in equity As per ASPE any entity is required to separately disclose the following accounts in equity and any changes therein Retained earningsAny changes to net income and its attribution to owners and noncontroliing interests It shall also disclose other changes in retained earnings ... View the full answer