Remaining Time: 42 minutes, 56 seconds.Question Completion Status:A Moving to another question will save this response.Question 4Comprehensive income consists ofO operating income + other income and lossesO net income + other adjustments to retained earningsO net income + other comprehensive incomeO other comprehensive income + unrealized changes in the value of available-for-sale securitiesA Moving to another question will save this response.4) allENSRS(O PREMIUM SOUNDEGOwwwGO

please like the answer your response matters comprehensive income consists of other comprehensive…

Comprehensive income consists of O operating income + other income and losses net income + other adjustments to retained earnings net income + other comprehensive income other comprehensive income + unrealized changes in the value of available-for-sale securities

Comprehensive income consists of O operating income + other income and losses net income + other adjustments to retained earnings net income + other comprehensive income other comprehensive income + unrealized changes in the value of available-for-sale securities

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Statement I. Book value per share is tantamount to earnings per share Statement II. Dividends payable in noncash asset should be charged to accumulated profits at fair value of the noncash asset a. Statement I and II are trueb. Statement I and II are falsec. Statement I is true, Statement II is falsed. Statement I is false, Statement II is true
For fi nancial assets classifi ed as held to maturity, how are unrealized gains and losses refl ected in shareholders’ equity?B . Th ey fl ow through retained earnings.
What is incorrect here? Available options are: Accounts Payable, Accounts Receivable, Accumulated Depreciation, Bond Premium, Bonds Payable, Building, Cash, Common Stock, Cost of Goods Sold, Delivery Expense, Depreciation Expense, Discount on Bonds Payable, Dividends Declared, Finance Costs, Goodwill, Intrest Expense, Intrest Income, Intrest Payable, Intrest Receivable, Land, Merchandise Inventory, Micellanious Expense, Other Expenses, Sales, Sales Discounts, Sales Returns and Allowances, Finance Costs, Goodwill
Which of the following accounts would not be reported in the “Other Expenses and Losses” section of a multi-step income statement? Select one: Interest expense Loss on the sale of equipment Unrealized holding loss on equity investments Amortization expense
Current Attempt in Progress Equity investments that are accounted for under the cost model will result in O recognition of dividend income only when actually received. expensing transaction costs when incurred. O recognition of a gain or loss in other comprehensive income at disposal. O recognition of a gain or loss in net income at disposal.
Which of the following equations is correct? Multiple Choice Asset Liabilities-Shareholders' Equity Assets + Liabilities Shareholders' Equity Ending Retained Earnings Beginning Retained Earnings-Net Income Dividends Net Income Expenses-Revenues
Which of the following results in an increase in the Equity in the Investee Income acct. when applying the equity method? Amortizations of purchase price over book value on date of purchase Amortization since date of purchase of purchase price over book value on date of purchase Sale of portion of the investment at a gain to the investor Investors share of gross profit from intra-entity inventory sale for the prior year Sale of a portion of the investment at a loss
Which of the following are Assets, Liabilities, EquityAccounts PayableCommon StockBonds PayableFurniture and FixturesInventoryInterest PayableDividentsAdditional paid-in-capitalPatents and copyrightsShort-term investments
Accounting: type question:,,,,,, While calculating purchase price, the following values of assets are considered A. Book value B. New values fixed C. Averagevalues D. Market values
6. Unrealized gains and losses on investments in trading securities are reported a. as a current assetb. on the income statementc. on the balance sheet as part of stockholders' equityd. as a contra asset
2. Each of the three categories of investments in debt and equity securities have similar accounting for all of the following transactions, except for a. initial recording of costb. recognition of dividend and interest incomec. recognition of realized gains or losses on salesd. recognition of unrealized holding gains and losses