On January 1, 2022, the company had cash and capital of 60,000. At that date,...
50.1K
Verified Solution
Link Copied!
Question
Accounting
On January 1, 2022, the company had cash and capital of 60,000. At that date, the company had no other assets, liabilities or equity. On January 2, 2022, it paid for the purchase of 20,000 shares. The company was paid 3,000 in dividends during the year from these securities. In addition, the company has an unrealized profit on these securities in the amount of 4,000 (after taxes). Calculate the following amounts for the year 2022 for the company: a) profit ,b) total profit c) other comprehensive income, d) accumulated other comprehensive income (year-end 2022).
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
