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ACC 545 Week 3 Assignment Retained Earnings and Owner’s Equity Statement Preparation

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Resource: ABC Company History and ABC Financial Data Excel® spreadsheet, and the values from the Week 2 Individual Assignment

Prepare a statement of Retained Earnings and Comprehensive Income using the values from Week 2. 
• Apply error corrections to the retained earnings statement.
• Calculate foreign currency translation.
• Apply hedging or derivative transaction into statement.

Prepare a Statement of Owner's Equity, referring to the balance sheet results as well as the statements prepared for the Week 2 Individual Assignment.

Submit the Statement of Retained Earnings in a Microsoft® Excel® spreadsheet and the Statement of Owner's Equity and Comprehensive Income.

The following should be on your excel sheet to properly respond to the above questions:

With the general data provided the following Financial Statements for ABC Company:

• Statement of Retained Earnings
• Statement of Owners Equity
• Apply error corrections to appropriate statement
• Calculate foreign currency translation and apply to appropriate statement
• Apply Hedging/Derivative transaction to appropriate statement

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