Comprehensive income includes the following items, except: Select one: a. Deferred gains or losses from derivatives. b. Unrealized gains or losses from available-for-sale investments. c. Dividends distributed to shareholders. d. Net income.

Comprehensive income includes the following items, except: Select one: a. Deferred gains or losses from derivatives. b. Unrealized gains or losses from available-for-sale investments. c. Dividends distributed to shareholders. d. Net income.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Which of the following shows how a payment made to settle an accrued expense, such as salaries…

A: Payment of accrued expense reduce cash balance (asset). Accrued expense is a liability that needs to…

Q: We should report Dividends as:- Select one: a. financing activity-inflow b. financing activity-…

A: Cash flow statement is the summary of inflow and outflows of cash in 3 categories of operating,…

Q: In the Statement of Changes in Equity, the result from the Statement of Profit or Loss is always…

A: The income statement is prepared to find the profit or net loss incurred during the period.

Q: Differentiate between book value and market value. Explain why GAAPallows smoothing earnings…

A: The net value of a company's assets, as represented on its balance sheet, is roughly equal to the…

Q: Profit is A) assets minus liabilities B) the excess of revenues over expenses C) the excess of…

A: Accounting equation is the equation that shows relationship between assets, liabilities and owner's…

Q: example of items that are adjusted directly against equity, rather than being included as part of…

A: Definition: Stockholders’ Equity Section: It is referred to the section of the balance sheet that…

Q: is a correct statement below? A. Equity is the residual interest in the liabilities of the entity…

A: Option A is incorrect The correct statement is Equity is the residual interest in the assets of the…

Q: Payment of a divdend will : A. Decrease net income B. Increase net income C. Decrease retained…

A: when companies earn income they share income with shareholders by way of dividend.

Q: Statement 1: Financial assets held for trading shall be measured at fair value through profit or…

A: Securities can be classified under three categories which are, (1) Held to maturity (2) Trading…

Q: Comprehensive income includes the following items, except: Select one: a. Deferred gains or…

A: Definition: Comprehensive income: The change that occurs in the equity of a company from other…

Q: Comprehensive income includes the following except: A. revenues and gains B. expense and loss C.…

A: Comprehensive income : Comprehensive income is the income of business which is the variation of…

Q: Other than from retained earnings, dividends may be declared out of: Choose one answer. a. Paid in…

A: Dividend refers to the amount of profit that is distributed by the company to its shareholders.

Q: excess earnings method, capitalized earnings approach, and discounted future earnings approach which…

A: ADJUSTED NET ASSETS METHODThe difference between the fair market value of the business assets and…

Q: For trading investments, provide the following: Reporting method used How unrealized holding gain…

A: TRADE INVESTMENT: Trading is a technique of holding shares and stocks for a short period…

Q: 7. (a) When should a long-term investment in common stock be accounted for by the equity method? (b)…

A: Long-term investment is considered as equity method when the investor company owns 20–50 percent of…

Q: Which statement below is true? Retained earnings unappropriated is shown as part of reserves in the…

A: Accounting policies are the principles rules and practices that are applied by entity in preparing…

Q: Which of the alternatives results from the accrual of interest: a.Increase in liabilities and…

A: Expenses are accrued when these are incurred but are not paid. Due to the accrual concept, all the…

Q: The equity method of accounting for investments requires a.the investment to be increased by the…

Q: Which of the following best represents operating income? Seleccione una: Oa. Income after financing…

A: Income after financing activities (option a): This option describes the net income remaining after…

Q: ded in the following forms except for a. Original capital b. Weighted average of the capital

A: The correct answer is option b. Weighted average of the capital

Q: Eypically would best appear. If an item Account Title Classification 1. Long-term investment in…

A: 1. Long term investment in stock: It is a long term investment as the name suggests.2.…

Q: On June 1, Cindy Godfrey started Divine Designs Co., a company that provides craft opportunities, by…

A: Total service revenue = Service revenue + services were performed and billed but not collected =…

Q: 4. Which of the following items will appear in the statement of changes in equity? a. Extraordinary…

A: Statement of changes in equity is part of financial statements is used to present the amount which…

Q: Provide some examples of items that would be adjusted directly against equity, rather than being…

A: Components of equity that are a part of the balance sheet are as follows: Common stock Additional…

Q: 7) Which of the following is the formula for calculating Quick Ratie a. Total Debt/Total Assets b.…

A: Quick ratio can also be called as acid test ratio or liquidity ratio. it can be used to measure the…

Q: 11. For financial reporting purposes, how should an assignor present equity on assigned account? a.…

A: Assignor and Assignee: These are two parties who transfer rights from one entity to another under…

Q: Classify each of these items as an asset, liability, or equity. I need "Share Capital - Ordinary"…

A: Corporation- An organization that has been registered as a corporation under a corporation act has…

Q: Which of the following is not included under other income? a. Rent received b. Commission received…

A: OTHER INCOME: IT IS THE INCOME THAT DOES NOT COME FROM THE FIRMS MAIN BUSINESS.

Q: Select contra accounts (e.g., contra-assets, contra-liabilities, contra-equity accounts). Select all…

A: Contra account refer to the accounts in the balance sheet that reduces the balance of respective…

Q: Provide some instances of things that would be adjusted directly against equity rather than being…

A: This question explained about give examples of items that might be adjusted against equity rather…

Q: Provide an example of items that would be adjusted directly against equity rather than being…

A: Stockholders’ equity: The claims of owners on a company’s resources, after the liabilities are paid…

Q: EBIT is Select one: O a. equity before tax and interest O b. gross profit O c. net profit O d. EBT…

A: EBIT means earnings before interest and taxes. This is an important element of income statement of…

Q: Which of the following item is not used in equity-based valuation models? Select one: a. Working…

A: Equity valuation models refers to the various stock valuation methods used by an investor to compute…

Q: Provide some examples of items that would be adjusted directly against equity, rather than…

A: There are certain items that are directly adjusted to equity rather than recognized in the profit…

Q: Classify each of these items as an asset, liability, or equity. "Share Capital - Ordinary" Choose...…

A: Assets are the resources owned by an entity. These can be non-current and current. Liabilities are…

Q: cost of holding inventory *

A: 1st answer :- Cost of Debt 2nd answer :- Carrying cost

Q: The Equity Method of accounting for investments: a) Requires the investment asset to…

A: As per IAS 28, if any investment is made in associates and joint ventures, the equity method should…

Q: 5. Which of the following are considered the elements of financial position? I. Asset II. Liability…

A: Since you have asked multiple questions, we will solve the first question for you . If you want any…

Q: Required information Use the following information for the Exercises 6-8 below. (Algo) [The…

A: On May 5 th, Cost of goods sold = $5000

Q: Which of the following is incorrect? A. Capital + Liabilities = Assets B. Assets - Liabilities =…

A: Every transaction has dual effect on the books of account. The question is from the topic of…

Q: Which of the following accounts would not be reported in the “Other Expenses and Losses” section of…

A: The objective of the question is to identify which among the given accounts would not be reported…

Q: Current Attempt in Progress Equity investments that are accounted for under the cost model will…

A: Equity investment refers to the acquisition of power in a company through the purchase of stocks or…

Q: For fi nancial assets classifi ed as held to maturity, how are unrealized gains and losses refl…

A: Trading securities are debt or equity assets that management expects to aggressively sell for gain…

Question

Q7) Choose the correct answer

Comprehensive income includes the following items, except:

Select one:

a. Deferred gains or losses from derivatives.

b. Unrealized gains or losses from available-for-sale investments.

c. Dividends distributed to shareholders.

d. Net income.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

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.

Similar questions

1) Which of the following options is correct in relation to accounting equation? Select one: a. Assets + Liabilities= Equity b. Assets + Equity = Liabilities c. None of the options d. Assets= Liabilities + Equity
Which of the following is incorrect? A. Capital + Liabilities = Assets B. Assets Liabilities Capital Capital + Liabilities = Capital - Liabilities C. Assets D. Assets -
Unrealized gains or losses on short-term investments are reported using: Question 10 options: a liability account an asset account an expense account a revenue account
SLO-3.2. Which of the following is NOT a type of owner's equity? ORent Income OWithdrawls OOwner's Investment OAccounts Payable
3. Which of the following are Assets, Liabilities, Equity? Accounts Payable Common Stock Bonds Payable Furniture and Fixtures Inventory Interest Payable Dividend's Additional paid-in-capital Patents and copyrights Short-term investments
Which of the following is NOT a financial asset? Select one: O a. property b. Commercial Paper c. bonds O d. stocks 1
Which of the following is the definition of return on common equity?A. Net income / Average common equityB. Operating income / Average common equityC. Comprehensive income / Average common equityD. None of the above
Under What heads of the balance sheet will you classify the followings:1) Proposed Dividends2) Interest Accrued and due on secured loans 3) Interest Accrued and due on unsecured Loans4) Provision for Taxation5) Arrears of fixed accumulative dividends6) Security premium Account7) Share Forfeiture account.