Question: please solve them all 5,7, and 11 Question 5 ABC Corporation reports the following information: Correction of overstatement of depreciation expense in prior years, net


Question 5 ABC Corporation reports the following information: Correction of overstatement of depreciation expense in prior years, net of tax $ 430,000 Dividends declared, 2015 320,000 Net Income for 2015 1,000,000 Retained earnings, 1/1/15, as reported 2,500,000 Moorman should report retained earnings, December 31, 2015, of Question 7 ABC Company reported the following information for 2015: Sales revenue $100,000 Cost of goods sold 20,000 Operating expenses 30,000 Unrealized holding gains on non-trading securities, net of tax 15,000 For 2015, ABC would report comprehensive income of Question 11 ABC Corp.'s trial balance reflected the following account balances at December 31, 2015: Accounts receivable (net) $34,000 Trading securities 6,000 Accumulated depreciation-equipment 15,000 Cash 21,000 Inventory 30,000 Equipment 25,000 Patent 4,000 Prepaid expenses 2,000 In ABC's December 31, 2015 statement of financial position, the current assets total is
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