E 4.06 – Chance Company
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Make an income statement starting with income from continuing operations.
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Make an income statement starting with income from continuing operations.
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Given the income before taxes, the before-tax loss, the before-tax income from operations, restructuring costs, and income tax rate… prepare an income statement beginning with income from continuing operations.
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They give you book value, fair value, before tax loss, tax rate, and after-tax income, they want you to make a partial income statement under two scenarios.
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Given the net fair value, the pretax income from operations of the division, the pretax income from continuing operations, the income tax rate, and the net income… determine the book value of the division’s assets.
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They give you the number of outstanding shares, the income from continuing operations, and the loss on discontinued operations and ask you to prepare the EPS presentation.
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Given the net income, foreign currency translation adjustment, the loss on debt securities, and the income tax rate… prepare a statement of comprehensive income.
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They give you a long list of cash received and cash paid items and ask you to make a statement of cash flows.
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They give you net income, depreciation and tell you about increases and decreases in various accounts, and asks you to make a reconciliation of net income to net cash flows for operating activities.
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They give you a long list of items (common shares sold, purchasing equipment, purchased inventory, etc.) and ask you to analyze each transaction by showing the cash effect. Also must classify each, prepare a statement of cash flows.
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They give you net income, depreciation, and increases and decreases and ask for the operating activities section of the statement of cash flows.
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