Provide answer this question Under IFRS, the unrealized loss oninvestmentstradingreported:shouldbea. as part of other comprehensiveloss, reducing net income.b. on the income statement,reducing net income.c. as part of other comprehensiveloss, not affecting net income.d. directly to stockholders' equity,bypassing the income statement.

Option a) as part of other comprehensive loss, reducing net income: This option is incorrect because…

Answered: Under IFRS, the unrealized loss on…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 11MC: Which of the following would trigger a subtraction in the indirect operating section? A. gain on...

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A restriction on retained earningsa. Reduces retained earnings available for the declaration of dividends. b. Can be reported by an entry appropriating retained earnings. c. Has no effect on total retained earnings. d. All of the choices are correct.
Which of the statements below is false? If the net income of prior period is overstated because of the change in accounting policy, the effect is (A) deducted from the beginning retained earnings. Prior period errors are shown as adjustment of the ending balance of retained earnings. If the net income of (B) the prior period is overstated, the amount of the error uis deducted from retained earnings. Equity is also the net assets. In the conversion of preference chares into ordinary shares, if the total par or stated value of the ordinary D shares is more than the original issue of the preference shares, the difference is charged to retained earnings.
Important disclosures regarding likely losses that could not be estimated are * ?found where General Ledger Accounts Notes To The Financial Statements O Income Statement O
When using the allowance method, failure to record bad debt expense would have what effect on the accounting equation?: Assets Liabilities Stockholder's Equity A. No Effect No Effect No Effect В. Overstated No Effect Overstated С. Understated No Effect Understated D. Overstated Overstated Overstated Е. No Effect Understated Overstated Which of the following statements is FALSE?
May you please help me determine the effect on the accounting equation?
Provide some instances of things that would be adjusted directly against equity rather than being reported as a component of profit or loss in the financial statements.
WHICH STATEMENT IS FALSE?A. If the net income of prior period is overstated because of the change in accounting policy, the effect is deducted from the beginning retained earnings.B. Equity is also the net assets.C. Prior period errors are shown as adjustment of the ending balance of retained earnings. If the net income of the prior period is overstated, the amount of the error uis deducted from retained earnings.D. In the conversion of preference chares into ordinary shares, if the total par or stated value of the ordinary shares is more than the original issue of the preference shares, the difference is charged to retained earnings.
. These are decreases in economic benefits during the accounting period in the form of outflows or depletions of assets or incurrences of liabilities that result in decreases in equity, other than those relating to distributions to equity participants. a. Liabilities b. Expense c. Loss d. Cost
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
Please answer clearly and thoroughly1) On the RE Statement it shows the Net Income, if there is a loss will it show Net Loss?2) How do you configure the Net Income or Net Loss amount?
TRUE OR FALSE? A prior period error is not included in profit or loss but treated as an adjustment of the beginning balance of retained earnings.
Which of the following regarding retained earnings is false?a. Retained earnings is increased by net income.b. Retained earnings is a component of stockholders’equity on the balance sheet.c. Retained earnings is an asset on the balance sheet.d. Retained earnings represents earnings not distributed tostockholders in the form of dividends

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