Question: i need help with this accounting problem provided to me by my professor. here are a few knowns. 1 ) We sold marketable securities at
i need help with this accounting problem provided to me by my professor. here are a few knowns.
We sold marketable securities at no gain or loss that had a cost of $
Proceeds from the sale of equipment, with a Cost of $
The Longterm investments that were sold had NO cost basis, ie BV was zero
Gain on sale of Discontinued Operations was totally from Operations, NO assets were sold
there is another tab called "trial balances" that is attached. it contains the beginning and ending trial balances for in alphabetical order, NOT in classification order, or Chart of Accounts order so I need to figure out where the items go in the requirements below
Between the trial balances and the additional information I am required to do the following:
The formal MultiStep income statement for
The formal statement of Retained earnings for
The formal Classified Balance Sheet for
The formal Statement of Cash Flows for
If for some reason these don't effect any of the above work the company had the following Comprehensive income items prepare the Schedule of Comprehensive income based upon the income arrived at in above
a Foreign currency translation Loss of $ net of tax
b Cost of Defined Benefits plans is $ net of tax
it is required we show all our work and calculations in order to obtain full credit!
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