Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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I want to correct answer general accounting question

For the year ended December 31, 202X, Cloud Corporation reported the
following:
⚫ Net income: $85,000
⚫ Preferred dividends declared: $15,000
•
⚫ Common dividends declared: $5,000
⚫ Unrealized holding gain, net of tax (Available-For-Sale Securities):
$4,000
⚫ Retained earnings: $95,000
. Common stock: $50,000
•
Accumulated Other Comprehensive Income, Beginning Balance:
$8,000
What would Cloud Corporation report as its ending balance of accumulated
other comprehensive income?
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Transcribed Image Text:For the year ended December 31, 202X, Cloud Corporation reported the following: ⚫ Net income: $85,000 ⚫ Preferred dividends declared: $15,000 • ⚫ Common dividends declared: $5,000 ⚫ Unrealized holding gain, net of tax (Available-For-Sale Securities): $4,000 ⚫ Retained earnings: $95,000 . Common stock: $50,000 • Accumulated Other Comprehensive Income, Beginning Balance: $8,000 What would Cloud Corporation report as its ending balance of accumulated other comprehensive income?
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Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:Cengage Learning