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
slava [35]
2 years ago
8

Now- a quick question. Assume at the beginning of Year2, Becker Company has a credit (positive) balance in the AOCI account of $

10800. Becker Company reports $653000 of net income for Year2. Becker has an unrealized gain of $12000 during Year2. The gain qualifies as OCI (Other comprehensive income). 1. What will Becker report as Accumulated Other Comprehensive Income on the Year2 balance sheet
Business
1 answer:
castortr0y [4]2 years ago
7 0

Answer:

Becker Company

The amount that Becker will report as Accumulated Other Comprehensive Income on the Year 2 balance sheet is:

= $22,800.

Explanation:

a) Data and Calculations:

Year 2 Beginning balance:

Accumulated other comprehensive income (AOCI) = $10,800 credit

Year 2 reported net income = $653,000

Unrealized gain during Year 2 = $12,000

The Accumulated Other Comprehensive Income on the Year 2 balance sheet is:

Beginning balance $10,800

Unrealized gain        12,000

AOCI for Year 2 = $22,800

b) Becker's Accumulated Other Comprehensive Income includes unrealized gains and losses arising from some investments, pension plans, and hedging transactions.  These are usually reported in the equity section of the balance sheet and then netted off from the retained earnings.

You might be interested in
Type an I beside the items that are used for state income and an E for those that are state expenses.
Anastaziya [24]

Answer:

e, e ,i, i, i, e is the order from top to bottom

3 0
2 years ago
__________ is/are defined as the entire set of values, ideas, or attitudes shared among or learned from the members of a group
kodGreya [7K]

Answer: Culture

Explanation:

 Culture is the refers to the set of values, attitude and the ideas that are shared among the team members and the word culture is derived from the french word which means cultivation and the earth.

According to the given question, the culture is the defined as the knowledge for the specific religion or the group in the society. When we used to share the traditions, expectations and the beliefs withing the specific society or a group.

There are basically two types of culture that are as follows:

  • Material culture
  • Non-material culture

Therefore, Culture is the correct answer.

8 0
2 years ago
When a company prepares financial statements using standard costing, which items are reported at standard cost
Dmitrij [34]

Answer: Inventories and cost of goods sold.

Explanation:

Standard costing is used in accounting and it simply has to do with the substitution of the cost that's expected for a product with an actual cost when preparing financial statements.

The difference that's then between the actual costs and expected costs are then recorded as variance. It should also be noted that when a company prepares financial statements using standard costing, the items that are reported at standard cost will be Inventories and the cost of goods sold.

7 0
2 years ago
All of the following questions are open-ended problems. You must compute an answer for every problem. For percentage answers, ca
DerKrebs [107]

Solution :

13. Net income = total assets x ROA

                   = $ 1,000,000 x 12%

                  = $ 120,000

Net Income for company is $120,000.

Net Profit margin = 4.25%

Total sales = net income / net profit margin

                  = $ 120,000 / 4.25%

                  = $ 2,823,529

Total sales for company is $ 2,823,529

14. Debt ratio = 72%

   So weight of debt = 72%

   Weight of equity = 1 - 72%

                                = 28%

   Debt equity ratio  $=\frac{72 \%}{28 \%}$  

                                 =  2.57

   Debt equity ratio is 2.57

15. Debt ratio = 42.50%

So, weight of debt = 42.50%

Weight of equity = 1 - 42.50%

                             = 57.50%

Weight of equity is 57.50%.

Return on equity = 15%.

Return on assets = 57.50% × 15%

                            = 8.625%

Return on assets is 8.625%.

16.

Debt Equity ratio = 1.45

Weight of debt = 59.18%

Weight of equity = 40.82%

Return on assets = 16%

Return on equity = 16% / 40.82%

                              = 39.20%

Return on equity is 39.20%.

17.

Total Assets turnover = Sales / Total Assets

                                     = (Net Income / Total Assets) / (Net Income / Sales)

                                    = ROA / Net Profit margin

                                      = 7.50% / 15%

                                      = 0.50

Total Assets turnover is 0.50.

8 0
3 years ago
During 2021, a company sells 500 units of inventory for $95 each. The company has the following inventory purchase transactions
Kryger [21]

Answer:

cost of goods sold = $36,285

ending inventory = $1,742

Explanation:

when you use the weighted average cost method you have to calculate the COGS using the total number of units and the total amount paid for them.

beginning inventory = 71 units for $5,325

purchase 1 = 262 units for $18,864

purchase 2 = 187 units for $13,838

total 524 units for $38,027

cost per unit = $38,027 / 524 units = $72.57

cost of goods sold = 500 units x $72.57 = $36,285

ending inventory = 24 units x $72.57 = $1,741.68 ≈ $1,742

6 0
3 years ago
Other questions:
  • Rob, Bill, and Steve form Big Company. Rob performs $45,000 of services for his 45 shares of the company. Bill transferred prope
    9·1 answer
  • Understanding the _____ begins with analysis of market share.
    9·1 answer
  • Pro Corp., a U.S.-based MNC, uses purchasing power parity to forecast the value of the Thai baht (THB), which has a current exch
    15·1 answer
  • As a gift from your parents, you just received $50,000 for your education. You can earn an annual rate of 8% on your investments
    5·1 answer
  • Kendall Corners Inc. recently reported net income of $3.1 million and depreciation of $500,000. What was its net cash flow?
    14·1 answer
  • Use the drop-down menus to indicate whether each of the following events would be recorded as revenues or expenses at the time i
    7·1 answer
  • Chaikin Money Flow is calculated by summing the ADs over the past _____ days and dividing that sum by the total volume over the
    11·1 answer
  • Tim and Tammy are updating their financial plan and are concerned that they might not have enough life insurance coverage for th
    11·1 answer
  • purchased goods for Rs 10000 and paid Rs 4000 in cash. The balance amount is paid through cheque after receiving discount Rs 500
    13·1 answer
  • Explain why the income statement and the statement of cash flows are dated "For the Year Ended December 31, " whereas the balanc
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!