1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Pepsi [2]
3 years ago
6

An inexperienced accountant for Marigold Corp. showed the following in the income statement: income before income taxes $432,000

and unrealized gain on available-for-sale securities (before taxes) $85,200. The unrealized gain on available-for-sale securities and income before income taxes are both subject to a 33% tax rate. Prepare a correct statement of comprehensive income.
Business
1 answer:
nekit [7.7K]3 years ago
6 0

Answer:

$346,524

Explanation:

Marigold Corp correct statement of Comprehensive Income

Income before income taxes 432,000

Income taxes expenses 142,560

(432,000*33%)

Net Income or loss 289,440

(432,000-142,560)

Other comprehensive income:

Unrealized gain on available-for-sale securities before tax

(85,200-(85,200*33%)

=85,200-28,116

=57,084

Hence:

Comprehensive income:

289,440+57,084

=$346,524

You might be interested in
Worker A is more effective than Worker B. Both workers become less effective as their workloads increase. Both workers are paid
sineoko [7]

Answer: False

Explanation:

Question mentions that even though Worker A and Worker B are both paid the same salary and become less effective as their workload increase, Worker A is still more effective than Worker B.

The optimal allocation therefore would be one where Worker A get more of the 200 units of production than Worker B because they would be able to produce more as they are more effective.

8 0
3 years ago
Granger Company had January 1 inventory of $150,000 when it adopted dollar-value LIFO. During the year, purchases were $900,000
Lisa [10]

Answer:

$624, 750

Explanation:

Purchases = 900,000

Sales = 1500000

Price index = 110%

Inventory= 189750

1,500,000 - [{($150,000 x 110%) + $900,000} - $189,750]

=1,500,000 - [($150,000 x 1.1) + $900,000] - $189,750

= 1,500,000 - (1065000 - 189750)

= 1,500,000 - 875250

=$624,750

Gross profit. = $624750

5 0
3 years ago
Santa Fe purchased the rights to extract turquoise on a tract of land over a five-year period. Santa Fe paid $429,000 for extrac
notsponge [240]

Answer:

Option B $128700

Explanation:

The amortization can be calculated using the following formula:

Amortization for the Year = Assets Value * (Turquoise Extracted / Total Turquoise)

Amortization for the Year = $429,000 * (1950/6,500) = $128,700

The method used is depletioning method because it seems that the company will extract all of the turquoise within the 3.33 year time (6500/1950), which is within the 5 years duration for which the right to extract the turquoise is purchaseed. Otherwise the straigth line method would had be used here.

8 0
3 years ago
On January 12, 2021, Jefferson Corporation purchased bonds of Rose Corporation for $77 million at par and classified the securit
olga2289 [7]

Answer:

a

Explanation:

4 0
2 years ago
Maria is a user who belongs to the Sales distribution global group. She is not able to access the laser printer that is shared o
Mila [183]

Answer:

A) Change the group type to a security group

Explanation:

According to my research on shared network access, I can say that in order to  make sure that the Sales Global group has full access we can change the group type to a security group. This will allow us to let the group of user accounts within the security group have access to a shared folder or in this case a shared printer within the network.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

3 0
4 years ago
Other questions:
  • Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2016. Edison purchased the equipm
    12·1 answer
  • Career fulfillment means:
    7·2 answers
  • Sameer does not smoke. Every day he walks past a billboard advertising Camel cigarettes. In class, the instructor was talking ab
    11·1 answer
  • Impact sourcing, smart sourcing, was developed to provide opportunities for workers in less developed countries. Into three para
    14·1 answer
  • -Provide public goods
    13·2 answers
  • Edwards Auto Body uses a job order cost system. Overhead is applied to jobs on the basis of direct labor hours. During the curre
    5·1 answer
  • Barbara is a producer in a monopoly industry. Her demand curve, total revenue curve, marginal revenue curve and total cost curve
    15·1 answer
  • Which of the following is not part of the process for assessing security controls according to NIST SP 800 53A 1?
    8·1 answer
  • Your best customer, who has high volume with your company, asks you for a volume discount. Actually, he demands this, rather tha
    8·1 answer
  • A detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!