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91. The trial balance of Rollins Inc. included the following accounts

Question : 91. The trial balance of Rollins Inc. included the following accounts : 1412616

 

 

91.

The trial balance of Rollins Inc. included the following accounts as of December 31, 2016:

 

 

Debits

Credits

Sales revenue

 

5,900,000

Interest revenue

 

40,000

Loss on sale of investments

10,000

 

Unrealized losses on investments

150,000

 

Foreign currency translation gains

 

260,000

Cost of goods sold

4,400,000

 

Selling expenses

400,000

 

Restructuring costs

180,000

 

Interest expense

20,000

 

General and administrative expenses

300,000

 



Rollins had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 40%.

Required:

Prepare a 2016 multiple-step income statement for Rollins Inc. with earnings per share disclosure.  
 
 

 

 

 

 

92.

The trial balance of Rollins Inc. included the following accounts as of December 31, 2016:

 

 

Debits

Credits

Sales revenue

 

5,900,000

Interest revenue

 

40,000

Loss on sale of investments

10,000

 

Unrealized losses on investments

150,000

 

Foreign currency translation gains

 

260,000

Cost of goods sold

4,400,000

 

Selling expenses

400,000

 

Restructuring costs

180,000

 

Interest expense

20,000

 

General and administrative expenses

300,000

 



Rollins had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 40%.

Required:

Prepare a 2016 separate statement of comprehensive income for Rollins Inc.  
 
 

 

 

 

 

 

Solution
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Accounting 1 Year Ago 32 Views
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