Reference no: EM132131668
Question - Make a statement of comprehensive income from the following data?
Sales revenue $40,000,000
General and administrative expenses 8,200,000
Deferred revenue 100,000
Interest expense 65,000
Selling expenses 1,800,000
Interest revenue 75,000
Cost of goods sold 12,000,000
Dividend revenue 15,000
Additional Information:
The company's fiscal year end is December 31st. Income tax expense has not been determined. The following events also occurred during 2018. All transactions are material in amount unless otherwise noted.
1 - A chemical explosion caused $66,000 in uninsured damages to one of Kingston's warehouses. The explosion was considered to be an unusual event.
2 - In October 2018, Kingston sold its Paint division that qualified as a component of an entity for $2,000,000. The division generated "before tax income" of $280,000 from operations, from the beginning of the year through the date of disposal, and the book value of the division's assets was $800,000.
3 - $160,000 in restructuring costs were incurred in connection with corporate down-sizing.
4 - It was discovered that depreciation expense for 2017 was understated by $50,000 due to a mathematical error.
5 - Inventory that had a cost of $15,000 had become obsolete. The inventory was sold as scrap for $9,000.
6 - Kingston Corporation experienced a foreign currency translation adjustment loss of $50,000.
7 - Investments were sold during the year at a loss of $8,000.
8 - Kingston also had unrealized gains of $30,000 for the year on investments.
Stories about the accuracy of wikipedia
: What is the lesson learned from the stories about the accuracy of Wikipedia?
|
How government intervention can help in the situation
: In 2012, Hurricane Sandy caused massive destruction to the northeast United States. Tens of thousands of people lost their homes and possessions.
|
What is the importance of customer service
: What is the importance of customer service in your small business?
|
Do you think globalization is positive or negative
: Does it increase standards of living around the world, or suffocate other cultures under an onslaught of Big Macs and Coca Cola?
|
Make a statement of comprehensive income
: The company's fiscal year end is December 31st. Income tax expense has not been determined. Make a statement of comprehensive income from the following data
|
Find out the construction cost index
: A 2000-gallon metal tank to store hazardous materials was bought 15 years ago at cost of $100,000. What will a 5,000-gallon tank cost today if the power-sizing.
|
Average worker in organization
: Are U.S. Executives paid too much particularly compared to the average worker in their organization?
|
Knowledgeable regarding computers
: Jason, who is very knowledgeable regarding computers, agrees to purchase computers for Nick's business. Jason is retained for that purpose only
|
Is the initial endowment pareto efficient
: Suppose there are two consumers, A and B. The utility functions of each consumer are given by: UA(X,Y) = X + Y UB(X,Y) = Min(X,Y) The initial endowments are.
|