Compute the amount of accumulated other comprehensive income

Assignment Help Accounting Basics
Reference no: EM132813341

Question - On January 1, 2020, Zhang Inc. had cash and share capital of 5,000,000. At that date, the company had no other asset, liability, or equity balances. On January 5, 2020, it purchased for cash 3,000,000 of equity securities that it classified as available-for-sale. It received cash dividends of 400,000 during the year on these securities. In addition, it has an unrealized loss on these securities of 300,000. The tax rate is 20%. Compute the amount of accumulated other comprehensive income/(loss).

a. (300,000)

b. 100,000

c. 80,000

d. 240,000

Reference no: EM132813341

Questions Cloud

What external revenue of reportable operating segments must : What External revenue of reportable operating segments must be at least? Regent Company, a publicly owned entity, is subject to the requirements
Compute debt-gdp ratio : Suppose a country has a national debt of $5,000 billion, a GDP of $10,000 billion, and a budget deficit of $100 billion.
How much is the profit of twin seas for the year : Twin Seas made additional investments for a total of P55,000 and withdrawals amounted to P30,000. How much is the profit of Twin Seas for the year 2020?
Explain main points of the naeyc position statement : What is the position of National Association for the Education of Young Children (NAEYC) regarding diversity and culture and developmentally appropriate.
Compute the amount of accumulated other comprehensive income : On January 1, 2020, Zhang Inc. had cash and share capital of 5,000,000. Compute the amount of accumulated other comprehensive income
How much is the total current assets : How much is the total current assets? Accounts receivables (net of P20,000 credit balance in accounts)- P80,000.Cash Equivalents- P20,000
Describe the disadvantages of nonevaluators : Discuss the advantages and disadvantages of nonevaluators in the role of internal evaluators. Analyze how the use of nonevaluators would affect your evaluation.
Two types of government macroeconomics policies : 1. Explain in detail two types of government macroeconomics policies. 2. Explain any four (4) macroeconomics objectives based on the conventional perspective.
Is foreign aid worsening america budget deficit : Is foreign aid worsening America's budget deficit? Should America cut down on the amount of aid it gives to such countries?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much revenue should indigo recognize related to its sale

Indigo prepares an income statement for the first quarter of 2017, ending on March 31, 2017, How much revenue should Indigo recognize related to its sale

  Compute the number and total cost of the units for sale

Compute the amounts assigned to the 20x7 ending inventory, and the cost of goods sold for FIFO, LIFO, and weighted average.

  What is the formula for calculating current ratio

What is formula for calculating current ratio and acid test ratio after transaction. First transaction is purchased $80,000 of merchandise inventory on credit

  Prepare journal entry to record conversion of the stock

ABC Co. issued 500 shares of common stock (par value $2) upon conversion of 300 shares of preferred stock, Prepare journal entry to record conversion of stock

  Calculate the payback period for each project

Depreciation on each project is estimated at R25 000 per year. Calculate the payback period for each project (In years, months and days)

  What is terrys basis in her remaining preferred shares

How much income must Terry recognize when she receives the stock dividend and how much gain or loss must Terry recognize when she sells the preferred stock?

  Motor distribution and transportation company

The board of directors of Tong & Fong Limited ("T&F"), a major motor distribution and transportation company, are considering bidding to be the exclusive authorised distributor of "Bruser" brand of automobile.

  At what point are revenues considered to be earned

At what point are revenues considered to be earned?

  What is the amount of contribution margin

Spartan Systems reported total sales of $490,000, at a price of $25 and What is the amount of contribution margin if sales volume increases by 20%

  Determine dillins free cash flow for both years

Determine Dillin's free cash flow for both years. Year 2 Year 1, Has Dillin's free cash flow improved or declined from Year 1 to Year 2?

  Compare and contrast the views of management and accountants

Compare and contrast the views of management and accountants regarding the changes required by the Sarbanes-Oxley Act on internal controls

  On june 5 2013 dan purchased and placed in service a

on june 5 2013 dan purchased and placed in service a seven-year class asset costing 550000. determine the maximum cost

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!

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