During Year 2, Copernicus Corporation held a portfolio of available-for-sale securities having a cost of $141,200....
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During Year 2, Copernicus Corporation held a portfolio of available-for-sale securities having a cost of $141,200. There were no purchases or sales of investments during the year. The market values at the beginning and end of the year were $166,600 and $134,100, respectively. The net income for Year 2 was $129,900, and no dividends were paid during the year. The Stockholders' Equity section of the balance sheet was as follows on December 31, Year 1: Copernicus Corporation Stockholders' Equity December 31, Year 1 Common stock Paid-in capital in excess of par Retained earnings Unrealized gain on available-for-sale investments Total stockholders' equity $30,000 223,000 293,700 25,400 $572,100 Prepare the Stockholders' Equity section of the balance sheet for December 31, Year 2. Copernicus Corporation Balance Sheet (selected Stockholders' Equity items) December 31, Year 2 Total stockholders' equity During Year 2, Copernicus Corporation held a portfolio of available-for-sale securities having a cost of $141,200. There were no purchases or sales of investments during the year. The market values at the beginning and end of the year were $166,600 and $134,100, respectively. The net income for Year 2 was $129,900, and no dividends were paid during the year. The Stockholders' Equity section of the balance sheet was as follows on December 31, Year 1: Copernicus Corporation Stockholders' Equity December 31, Year 1 Common stock Paid-in capital in excess of par Retained earnings Unrealized gain on available-for-sale investments Total stockholders' equity $30,000 223,000 293,700 25,400 $572,100 Prepare the Stockholders' Equity section of the balance sheet for December 31, Year 2. Copernicus Corporation Balance Sheet (selected Stockholders' Equity items) December 31, Year 2 Total stockholders' equity
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Related Book For
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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