XYZ Clothing Company
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The adjusted trial balance for XYZ Clothing Company for the fiscal year ending 12/31/2022 includes the following account balances: |
|
Common stock, $3 par |
600,000.00 |
Additional paid-in capital |
800,000.00 |
Treasury stock, at cost |
50,000.00 |
Accumulated Other Comprehensive Net Loss |
20,000.00 |
Retained earnings: Appropriated for |
|
uninsured earthquake losses |
150,000.00 |
Retained earnings: Unappropriated |
200,000.00 |
(a) What amount should XYZ Clothing Company report as total equity in its December 31, 2022, balance sheet? |
|
(b) On what financial statement(s) would the details for the Accumulated Other Comprehensive Net Loss appear? |
|
NOTE: The above balances are all normal balances based on their account name |
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