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Sagot :
Answer:
Kensington Corp.
Accumulated other Retained Earnings
comprehensive income
December 31, 2020 $33,000 (DR) $340,000 (CR)
Explanation:
a) Data and Calculations:
Tax rate = 25%
Accumulated other Retained Earnings
comprehensive income
December 31, 2019 $18,000 (DR) $100,000 (CR)
Net income for 2020 280,000
Unrealized loss for 2020 15,000
Dividends for 2020 (40,000)
December 31, 2020 $33,000 (DR) $340,000 (CR)
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