What is comprehensive income and retained earnings?

Q: What do the Retained earnings represent?

A: Financial Statement:   They are annual reports of an organization summarizing the financial…

Q: difference between Gross Earnings and Net Earnings

A: Gross earnings and Net earnings are two terms used in financial accounting while computation of the…

Q: What does comprehensive income provides?

A: Net income: The bottom line of income statement which is the result of excess of earnings from…

Q: What is comprehensive income, and what does it include?

A:

Q: What is earnings management?

A: Earnings refer to the amount earned by the business during the financial year. It may vary from year…

Q: In general, what is the concept of earnings and profit designed to represent?

A: When addressing the bottom line of a company's income statement, the concept of earnings is most…

Q: How to complete income statements?

A: The income statement summarises a company's sales, costs, and profits or losses. This is one of…

Q: What is the income statement formula?

A: Introduction: Income statement: All revenues and expenses are recorded in Income statement. it tells…

Q: What is retained earning

A: The retained earnings which is also known as ploughed back profit is expalined…

Q: what is the equation for Differential Income?

A: Let's dive deeper into the concept of Differential Income. What is Differential Income?Differential…

Q: What information do we get from the income statement?

A: Income statement is a financial statement which is prepared on periodical basis along with Balance…

Q: What is comprehensive income?

A: Definition: Comprehensive Income: When there is a change in the total stockholder's equity from all…

Q: what are contrast economic concepts of income from reported income?

A: As per the income statement, the reported income refers to the income left after subtracting the…

Q: What does the gross profit percentage measure, and how is it calculated?

A: Gross margin percentage: The percentage of gross profit generated by every dollar of net sales is…

Q: Describe the format used to report the components of net income.

A: Net income: Net income is the excess amount of revenue after deducting all the expenses of a…

Q: What do I use in an Income Statement?

A: An Income statement is a part of the financial statements which shows the profits or losses earned…

Q: What is the difference between income statement and statement of comprehensive income?

A: GAAP stands for “Generally Accepted Accounting Principles”. It provides the accounting rules and…

Q: what is the difference in preparation of mutistep incomestatement and single step income statement?

A: Multi step income statement refers to the report that showcases the company's revenues, expenses,…

Q: what items are included in an income summary repor?

A: An income summary account is prepared at the end of accounting period to which all the incomes and…

Q: What is meant by net income and net loss?

A: When the company has more amount of revenue it would have positive income whereas when company has…

Q: where's the total net income under scenario b?

A: Gross Profit = Sales - Manufacturing Expenses Net Income = Gross Profit - Non Manufacturing…

Q: How do you determine net income applying the accrual accounting model?

A: Accrual Accounting Model:This method is a widely used basis of accounting that suggests the timing…

Q: What differentiates things reported on the income statement from those reported on the balance sheet…

A: The Answer