Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. marigold co. reports the following information for

Marigold Co. reports the following information for 2020: sales revenue $780,800.cost of goods sold $519,000,...

50.1K

Verified Solution

Question

Accounting

image

Marigold Co. reports the following information for 2020: sales revenue $780,800.cost of goods sold $519,000, operating expenses $88,800, and an unrealized holding loss on available-for-sale debt securities for 2020 of $56,200. It declared and paid a cash dividend of $12,950 in 2020. Marigold Co. has January 1, 2020, balances in common stock $362,700; accumulated other comprehensive income $83,900; and retained earnings $98,160. It issued no stock during 2020. (Ignore income taxes.) Prepare a statement of stockholders' equity. MARIGOLD CO. Statement of Stockholders' Equity For the Year Ended December 31, 2020 Total Retained Earnings Accumulated Other Comprehensive Income Common Stock Beginning Balance 98160 83900 $ 544760 Net Income Other Comprehensive Income Unrealized Holding Loss Dividends Ending Balance 362700 258210 27700 $ 648610

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!
Become a Member

Other questions asked by students