Reference no: EM132824092
Problem 1: Describe the specific element of the balance sheet (assets, liabilities, and owners' equity), and prepare a balance sheet with assets and liabilities properly classified into current and noncurrent categories.
Problem 2: Using the following information, compute
(a) total contributed capital
(b) total accumulated other comprehensive income, and
(c)total stockholders' equity:
Additional Paid-In Capital, Common ..........................................................................................$9,000
Common Stock, at par...............................................................................................................................400
Cumulative Translation Adjustment (equity reduction), ending......................................2,000
Treasury Stock...............................................................................................................................................700
Retained Earnings (post closing, or ending) ...............................................................................1,500
Cumulative Unrealized Gain on Available-for-Sale Securities, ending............................1,100
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