User Account

All Pages

Prepare in good form a statement of changes in equity

Assignment Help Accounting Basics
Reference no: EM131660949

Problem - Presented below Is Information which relates to Crane Company, a Canadian public corporation traded on the Toronto Stock Exchange, for 2017.

Net Income                                                                                                      $414,000

Retained earnings, January 1. 2017                                                                    870,000

Cash dividends declared on common shares                                                        33,000

Correction of calculation error depreciation understatement in 2013 (pre-tax)         464,000

Gain from foreign currency transactions (net of tax)                                              244,000

Proceeds from issuance of Crane common shares                                                 58,000

Accumulated other comprehensive Income January 1, 2017                                   18,000

On January 1, 2017, Crane had 19,600 common shares outstanding with a capital balance of $490,000. During the year, Crane Company issued an additional 2,600 common shares.

Prepare in good form a statement of changes in equity for 2017. The tax rate is 30%.

Reference no: EM131660949

Questions Cloud

The value of planning the risk management approach : Reflect upon the value of planning the risk management approach. Identify two to three challenges faced in doing project work.
Develop a cost estimation equation for monthly production : Develop a cost estimation equation for monthly production costs using the regression method
What are the challenges associated with your choice : Which is more important: the formulation of a strategy or the implementation of a strategy? What are the challenges associated with your choice?
Report on the current and future state of the management : Analyse and report on the current and future state of the management of internetworking infrastructure and its applications.
Prepare in good form a statement of changes in equity : Presented below Is Information which relates to Crane Company, Prepare in good form a statement of changes in equity for 2017. The tax rate is 30%
Explore the functions of communication : Explore the functions of communication in the strategic and program planning processes for a health care organization.
Describe differences between viral and bacterial infections : Describe differences between viral and bacterial infections, Describe the categories of antimicrobial agents
Discuss the impact of telecommunications in todays business : Discuss the impact of telecommunications in today's businesses and in team performance and collaboration.
Give the percent yield : Give the percent yield when 28.16 g of CO2 are formed from the reaction of 5.000 moles of C8H18 with 4.000 moles of O2. 2C8H18 + 25 O2? 16 CO2+ 18 H2O

Reviews

Write a Review

Accounting Basics Questions & Answers

  Taxpayer gross income for tax purposes

Determine the taxpayer's gross income for tax purposes in each of the following situations. Olga, a cash basis taxpayer, traded a corporate bond on accrued interest of $300 for corporate stock with fair market value of $11,000 at the time of the ex..

  Discuss about the efficiency standards

Efficiency Standards. The U.S. Postal Service (USPS) advertises prompt delivery schedules for express mail (overnight delivery) and priority mail.

  The principle of potential energy

The uniform rod AB has a weight of 10 lb. If the spring DC is unstretched when θ =0° , determine the angle for equilibrium using the principle of virtual work. The spring always remains in the horizontal position due to the roller guide at D.

  Prepare the adjusting entry for december

What is the appropriate reporting category for this investment? Why?

  Saitama amusements corporation places electronic games and

saitama amusements corporation places electronic games and other amusement devices in supermarkets and similar outlets

  Prepare a bank reconciliation

Prepare a bank reconciliation to determine your correct checking account balance

  Determine the price that current designs would charge

Determine the price that Current Designs would charge to complete the repairs for the customer - Current Designs has allocated 2,000 hours of repair time for the upcoming year. The customer has agreed to transport the kayak to the Winona production..

  What is the amount of tax expense for the current year

Northwest Financial Services was organized on April 1 of the current year. On April 2, Northwest prepaid $4,500 to the city for taxes (license fees) for the next 12 months and debited the prepaid taxes account.

  What is the expected return on this three-asset portfolio

Is there any way Hennessy could reduce the number of issues from 40 to 20 without significantly affecting risk? Explain.

  Case study of houston company

Houston Company authorized a $1,000,000, 10-year, 6% bond issue dated July 1, 2009, with annual interest to be paid each December 31. On July 1, 2009, the bonds were issued for $886,500. Houston Company has a December 31 year-end.

  Garison music emporium carries a wide variety of musical

garison music emporium carries a wide variety of musical instruments sound reproduction equipment recorded music and

  Change due to overstatement of inventory

Accounting for Accounting Changes and Errors Listed below are various types of accounting changes and errors.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd