Please compute for the comprehensive income of liberty company. Thank you

Q: To arrive at comprehensive income, additional items are included

A: Income statement: It is one of the financial statements prepared by an organization. This statement…

Q: For each of the following users of financial ače accounting information, specify whether the user…

A: Important thing to Note the parties which are outside to the organization will not have access to…

Q: Help me make an income statement

A: Financial Statements: Financial Statements represent a formal record of the financial activities of…

Q: Explain revenue recognition for franchises.

A: A franchise agreement is a business agreement where a franchisor grants a franchisee the right to…

Q: Explain the components of income from continuing operations.

A: Continuing operations: The portions of the business which are expected to operate in the future are…

Q: Calculate the gross profit and the sales figures using the income statement approach.

A: Income statement approach refers to the approach which is used to determine the gross profit and it…

Q: According to our authors, define and provide an example of “comprehensive income.”

A: Comprehensive Income: The term "comprehensive income" refers to the combination of "net income" and…

Q: Insurance expense Office expense Supplies expense Real estate and payroll taxes Depreciation expense…

A: Expenses are those cash outflows which is done for earning revenue. It is part of Income Statement.…

Q: If you're using the accrual accounting methodology, how do you figure out your net income?

A: Model of Accrual Accounting: This is a frequently used accounting principle that indicates the order…

Q: which of the following would be considered in the calculation of gross profit?  Sales and returns…

A: Gross Profit is the operating profit calculated by deducting the cost of goods sold from the revenue…

Q: Data Recovery Services (DRS) specializes in data recovery from crashed hard drives. The price…

A: Working note :-    1. Total Service revenues…

Q: fill in the blanks Revenues are monies an organization received in exchange for ________ and…

A: SOLUTION REVENUE = PRICE OF GOODS & SERVICES * NO OF UNITS SOLD OR NO OF CUSTOMERS.

Q: List and describe the various formats available for the preparation of an Income Statement.

A: Income statement:   It is a financial statement that calculates the net income generated by a…

Q: Briefly describe this income statement in one sentence.

A: Introduction:- Income statement shows company's income and expenses over a period of time. Formula…

Q: Correctly identify the main business lines or revenue drivers of CIBC,comment on value of each line.

A: The objective of the question is to identify and evaluate the main business lines or revenue drivers…

Q: The amount of income a company reports in its financial statements is known as ________. Group of…

A: The objective of the question is to identify the correct term for the income a company reports in…

Q: Based on what you do, how will you describe statement of comprehensive income?

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

Q: Give a breakdown of the sources of income and categories of costs for a financial organization.

A: Banking institutions are one of the key financial institution of the economy. They primarily receive…

Q: Describe about the three major components of income from continuing operations.

A: Continuing operations:   The portions of the business which are expected to operate in the future…

Q: Make your own income statement

A: A statement of income is a financial document that identifies the income and expense of the company.…

Q: Matching Concept: Expenses & Revenues How does sales salaries expense directly relate to revenue?…

A: The sum of all wages paid to  workers by a business, including base pay and any  fresh  gratuities…

Q: Fill in the blank with these terms : long term, expense, balance sheet, Stockholder's equity,…

A: Solution: 1. Revenues are monies an organization received in exchange for goods and Service it…

Q: If a company capitalizes costs that should be expensed, how is its income statement for the…

A: A capitalized cost seems to be an element that is added to the cost structure of a fixed asset on a…

Q: The income statement form that contains several sections, subsections, and subtotals is called the…

A: The financial statement consists of mainly three statements Income statement or Profit and loss…

Q: How to do income statement? Step by step

A: Following is the procedure to prepare an income statement

Q: How can factoring help a company manage itscash flow?

A: Sales means delivery of goods and services by the seller. It can be for cash sales or sales made on…

Q: Briefly explain the difference between the single-step and multiple-step income statement formats.

A: Definition:

Q: What transactions are included in income from continuing operations? Briefly explain why it is…

A: Income from continuing operations includes the revenue, expense, gain, and loss transactions that…

Q: Explain the following A.Accounting profit B.Taxable profit C.Deffered taxes

A: In accounting we come across different terms related to the subject of accountancy.   Each term has…

Q: b. Calculate the business income apportioned to State X. Business Income State X

A: The organization operates a business to make a profit. Organizations earn income from business and…

Q: Calculate Brisky's Net Income.

A: Income statement:   The financial statement which reports revenues and expenses from business…

Q: The income statement section of the worksheet includes​ ________

A: Format of the income statment worksheet is provided:

Q: Income reported for a business entity depends on the proper recognition of revenues and expenses. In…

A: Recognition of revenues and expense refers to the timing and period in which they shall be recorded…