Presented below is information related to Wildhorse Company at December 31, 2020, the end of its...
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Presented below is information related to Wildhorse Company at December 31, 2020, the end of its first year of operations. Sales revenue $282,380 Cost of goods sold 144,090 Selling and administrative expenses 48,400 Gain on sale of plant assets 32,960 Unrealized gain on available-for-sale debt securities 10,550 Interest expense 6,180 Loss on discontinued operations 11,920 Allocation to non-controlling interest 38,310 Dividends declared and paid 4,790 Compute the following at December 31, 2020. (Ignore income taxes.) (a) Income from operations $ (b) Net income (c) Net income attributable to Wildhorse Company controlling shareholders (d) Comprehensive income $ (e) Retained earnings, end of year %24 %24 %24 %24 Presented below is information related to Wildhorse Company at December 31, 2020, the end of its first year of operations. Sales revenue $282,380 Cost of goods sold 144,090 Selling and administrative expenses 48,400 Gain on sale of plant assets 32,960 Unrealized gain on available-for-sale debt securities 10,550 Interest expense 6,180 Loss on discontinued operations 11,920 Allocation to non-controlling interest 38,310 Dividends declared and paid 4,790 Compute the following at December 31, 2020. (Ignore income taxes.) (a) Income from operations $ (b) Net income (c) Net income attributable to Wildhorse Company controlling shareholders (d) Comprehensive income $ (e) Retained earnings, end of year %24 %24 %24 %24
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Description Amount in Sales 282380 Cost of goods sold 144090 Income from operations a ... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
Posted Date:
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