Part 2. Statement of Changes in Stockholders' Equity and PPA Journal Entry( Use the following current fiscal year information for Raider Company to fill in the changes to the (Partial) Statement of Changes to Stockholders' Equity for 2022. Raider has a tax rate of 30% in all years. 1. Raider reported a Net Income of $105,000, which is calculated correctly. 2. Raider recognized dividend revenue of $30,000, declared dividends of $15,000, but only paid $10,000 in dividends. 3. Raider changed from one accounting principle to another and calculated a pre-tax cumulative effect of a decrease in revenues for prior years of $78,000. 4. Raider changed their estimate of bad debts from 3% to 4%. If Raider had used the 4% in the past, bad debt expenses would be $180,000 higher (pre-tax). 5. Raider discovered an error had been made in recorded past depreciation on a building. The building was original purchased for $1,000,000 on April 1, 2014. The salvage value was estimated at 295,000. The bookkeeper had used an estimated useful life of 30 instead of the correct 20 years. 6. Raider had $3,000 in unrealized holding gains on trading securities. 7. Raider had $54,000 in unrealized loss on hedging transactions. Provide the journal entry that Raider will do to correct the error. Good journal entry format is required You must use correct format, linage, and titles (abbreviations are allowed, indicate net of tax when needed). Beginning Balance Totals Retained Earnings $ 1,200,000 Accumulated Other Comprehensive Income $ 168,000

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Balance Sheet Nicole Corporation's year-end 2019 balance sheet lists current assets of $753,000, fixed assets of $603,000, current liabilities of $542,000, and long-term debt of $697,000. What is Nicole's total stockholders' equity? Multiple Choice О о $117,000 $1,356,000 There is not enough information to calculate total stockholder's equity. $1,239,000

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Spicer Inc. showed the following alphabetized list of adjusted account balances at December 31, 2023. Assume that the preferred shares are non-cumulative. Accounts Payable Accounts Receivable Accumulated depreciation, Equipment Accumulated depreciation, Warehouse Cash Cash Dividends Common Shares Equipment Income Tax Expense Land Notes Payable, due in 2026 Operating Expenses Preferred Shares Retained Earnings Revenue Warehouse Current assets $ 26,760 40,200 11,140 22,280 9,400 20,600 Required: Prepare a classified balance sheet at December 31, 2023. (Enter all amounts as positive values.) Assets 122,000 79,400 41,600 127,600 34,600 110,200 40,200 28,720 282,100 138,800 SPICER INC. Balance Sheet December 31, 2023 K

These financial statement items are for Sunland Corporation at year end, July 31, 2021: Operating expenses Salaries expense Deferred revenue Utilities expense Equipment Accounts payable Service revenue Rent revenue Common shares Cash Accounts receivable D Accumulated depreciation-equipment $32,500 46,700 12,000 2,600 70,200 5,020 116,100 19,000 27,500 5,560 16,100 5,800 Interest payable Supplies expense Dividends declared Depreciation expense Retained earnings, August 1, 2020 Rent expense Income tax expense Supplies Trading investments Bank loan payable (due December 31, 2021) Interest expense O $900 777891 700 14,500 3,500 22,940 11,500 5,700 2,100 20,500 24,800 Additional information: Sunland started the year with $14,000 of common shares and issued additional shares for $13,500 during the year. 1,900 O W

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View Policies Current Attempt in Progress The shareholders' equity accounts of Sandhill Inc. at December 31, 2023, are as follows: Preferred shares, $3 noncumulative, unlimited number authorized, 5,000 issued Common shares, unlimited number authorized, 140,000 issued Retained earnings Accumulated other comprehensive loss Sandhill has a 35% income tax rate. During the following fiscal year ended December 31, 2024, the company had the following transactions and events: Feb. July Dec. 1 Repurchased 10,000 common shares for $40,000. Announced a 2-for-1 preferred stock split. The market price of the preferred shares at the date of announcement was $150. 12 1 $500,000 700,000 550,000 (48,000) Dec. 18 Dec. 31 Declared the annual cash dividend ($1.50 post-split) to the preferred shareholders of record on January 10, 2025, payable on January 31, 2025, Declared a 10% stock dividend to common shareholders of record at December 20, distributable on January 12. 2025. The fair value of the common…