Brown-Box Retail Corporation reported stockholders equity on its balance sheet at December 31 Brown-Box Retail Corporation Balance
Question:
Brown-Box Retail Corporation
Balance Sheet (Partial)
December 31, 2015
Stockholders’ equity: (in millions)
Common stock, $0.10 par value—
1200 million shares authorized
500 million shares issued ........... $ 50
Additional paid-in capital ............ 1098
Retained earnings ............... 6,100
Accumulated other comprehensive (loss) ..... (?)
Less: Treasury stock, at cost .......... (80
Requirements
1. Identify the two components that typically make up accumulated other comprehensive income.
2. For each component of accumulated other comprehensive income, describe the event that can cause a positive balance. Also describe the events that can cause a negative balance for each component.
3. At December 31, 2014, Brown-Box Retail’s accumulated other comprehensive loss was $57 million. Then during 2015, Brown-Box Retail had a positive foreign-currency translation adjustment of $25 million and an unrealized loss of $15 million on available-for-sale investments. What was Brown-Box Retail’s balance of accumulated other comprehensive income (loss) at December 31, 2015?
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Related Book For
Financial Accounting
ISBN: 978-0133427530
10th edition
Authors: Walter Harrison, Charles Horngren, William Thomas
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