The Following Is a Partial List of Accounts and Balances

question 89

Essay

The following is a partial list of accounts and balances for Hatley Hotels Ltd.for the year ended June 30, 2013. $\begin{array}{lr}\text { Capital stock } & \$ 1,480,000 \\\text { Other comprehensive income for the year } & \$ 20,000 \\\text { Dividends declared during the year } & \$ 60,000 \\\text { Net income for the year } & \$ 600,000 \\\text { Retained earnings balance July 1, 2012 } & \$ 2,505,400 \\\text { Accumulated other comprehensive income balance July 1, 2012 } & \$ 250,000\end{array}$ A) Prepare a Statement of Changes in Equity for Hatley for the year ended June 30, 2013.
B) Briefly explain the purpose of Other Comprehensive Income

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Definitions:

Mentally Represent

The process by which the mind holds an internal image or concept of something in the external world.

Infant-Directed Speech

A special speech register used by adults when talking to babies, characterized by higher pitch, slower rate, and exaggerated intonation.

Experiments

Systematic procedures carried out to investigate phenomena, test hypotheses, or demonstrate known facts.

Environments

The surroundings or conditions in which an organism lives or operates, encompassing both natural and built settings, and social and cultural contexts.