Comprehensive income can be disclosed in various formats. Which of the following is an acceptable format for disclosing comprehensive income? I. At the bottom of the income statement, continue from net income and add other comprehensive income to arrive at comprehensive income for the year. II. In a separate statement, start with net income and add other comprehensive income to arrive at comprehensive income for the year. III. In the statement of stockholders’ equity, net income is adjusted for other comprehensive income to arrive at comprehensive income for the year. IV. After retained earnings in the stockholders’ equity section of the statement of financial position, start with net income and add other comprehensive income to arrive at comprehensive income for the year.
Comprehensive income can be disclosed in various formats. Which of the following is an acceptable format for disclosing comprehensive income? I. At the bottom of the income statement, continue from net income and add other comprehensive income to arrive at comprehensive income for the year. II. In a separate statement, start with net income and add other comprehensive income to arrive at comprehensive income for the year. III. In the statement of stockholders’ equity, net income is adjusted for other comprehensive income to arrive at comprehensive income for the year. IV. After retained earnings in the stockholders’ equity section of the statement of financial position, start with net income and add other comprehensive income to arrive at comprehensive income for the year.
Comprehensive income can be disclosed in various formats. Which of the following is an acceptable format for disclosing comprehensive income? I. At the bottom of the income statement, continue from net income and add other comprehensive income to arrive at comprehensive income for the year. II. In a separate statement, start with net income and add other comprehensive income to arrive at comprehensive income for the year. III. In the statement of stockholders’ equity, net income is adjusted for other comprehensive income to arrive at comprehensive income for the year. IV. After retained earnings in the stockholders’ equity section of the statement of financial position, start with net income and add other comprehensive income to arrive at comprehensive income for the year.
Comprehensive income can be disclosed in various formats. Which of the following is an acceptable format for disclosing comprehensive income?
I.
At the bottom of the income statement, continue from net income and add other comprehensive income to arrive at comprehensive income for the year.
II.
In a separate statement, start with net income and add other comprehensive income to arrive at comprehensive income for the year.
III.
In the statement of stockholders’ equity, net income is adjusted for other comprehensive income to arrive at comprehensive income for the year.
IV.
After retained earnings in the stockholders’ equity section of the statement of financial position, start with net income and add other comprehensive income to arrive at comprehensive income for the year.
Definition Definition Assets available to stockholders after a company's liabilities are paid off. Stockholders’ equity is also sometimes referred to as owner's equity. A stockholders’ equity or book value generally includes common stock, preferred stock, and retained earnings and is an indicator of a company's financial strength.
Expert Solution
Step 1
Comprehensive income:
The sum of regular and other comprehensive income is referred to as comprehensive income. The comprehensive income provides a more clear picture regarding the company's earnings and revenues.
Unrealized gains or losses from the following listed below are included in other comprehensive income:
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.