Big-Box Retail Corporation reported stockholders’ equity on its balance sheet at December 31, as follows:
1. Identify the 2 components that typically make up Accumulated other comprehensive income. (pp. 543, 559–560)
2. For each component of Accumulated other comprehensive income, describe the event that can cause a positive balance. Also describe the events that can cause a negative balance for each component. (pp. 543, 559–560)
3. At December 31, 20X2, Big-Box’s Accumulated other comprehensive loss was $53 million. Then during 20X3, Big-Box had a positive foreign-currency translation adjustment of $29 million and an unrealized loss of $16 million on available-for-sale investments. What was Big-Box’s balance of Accumulated other comprehensive income (loss) at December 31, 20X3? (pp. 559–560)
Questions 813–815 use the following data:
Assume that Fox Networks owns the following long-term available-for-sale investments:
Fox’s balance sheet should report (p. 543)
a. investments of $85,200.
b. investments of $81,200.
c. dividend revenue $2,800.
d. unrealized loss of $13,400.
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