The following is a list of some of the general ledger account balances of ...
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Accounting
The following is a list of some of the general ledger account balances of | |||||||
Jajoo Corporation at March 31, 2021: | |||||||
Accrued wages payable | $82,000 | ||||||
Buildings- net of accumulated depreciation | $952,000 | ||||||
Cash dividends - common | $130,000 | ||||||
Cash dividends - preferred | $15,000 | ||||||
Common shares | $650,000 | ||||||
Cost of goods sold | $8,458,000 | ||||||
Depreciaiton expense | $412,000 | ||||||
Operating expenses | $1,056,000 | ||||||
Other comprehensive income - loss on | |||||||
equity investments (before income tax) | $75,000 | ||||||
Preferred shares ($3 noncumulative) | $50,000 | ||||||
Rent revenue | $56,000 | ||||||
Sales | $10,456,000 | ||||||
Trade accounts payable | $148,000 | ||||||
Other additional information follows: | |||||||
1 | The company was incorporated on April 1, 2020 by issuing 200,000 | ||||||
common shares and 5,000 preferred shares, with no changes during | |||||||
the year. | |||||||
2 | The company has a 20% income tax rate. | ||||||
3 | The smartphone division was sold and discontinued on October 31, 2020. The | ||||||
profit for the smartphone division up to that day was $180,000 before income | |||||||
tax. The smartphone division was sold at a loss of $100,000 before tax. | |||||||
Question | |||||||
Prepare an all-inclusive statement of comprehensive income for Jajoo Corporation | |||||||
for the year ended March 31, 2021? | |||||||
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