Which one of the following is part of other comprehensive income (OCI)? Multiple Choice Sale of common stock above par. Unrealized gains resulting from remeasuring foreign currency financial statements of majority-owned subsidiaries to U.S. dollar amounts. Gains on sales of treasury stock. Receipt of land donated by a governmental unit.

Which one of the following is part of other comprehensive income (OCI)? Multiple Choice Sale of common stock above par. Unrealized gains resulting from remeasuring foreign currency financial statements of majority-owned subsidiaries to U.S. dollar amounts. Gains on sales of treasury stock. Receipt of land donated by a governmental unit.

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter8: Investing Activities

Section: Chapter Questions

Problem 1.2BIC

See similar textbooks

Similar questions

Other comprehensive income includes all of the following, except: unrealized gains on available for sale financial asset. loss from translating the financial statements of a foreign operations. actuarial gain on defined benefit plan that is fully recognized. share premium
Which of the following is not a part of Other Comprehensive Income? Group of answer choices foreign currency translation adjustments gains on the sale of equipment unrealized gains on available-for-sale debt securities unrecognized pension costs
Which of the following is not an exclusion from gross income? A. Income of government propertiesB. Income taxes collected by the BIRC. SSS benefitsD. Dividend income payable to a foreign government
Which of the following is NOT a component of Accumulated Other Comprehensive Income? A. Gains or losses on Treasury Stock B. Unrealized holding gains or losses on available-for-sale securities C. Gains or losses from foreign currency translation adjustments D. Gains or losses related to post retirement benefit plans (pensions)
Multiple choice: Topic: Income Taxation Which of the following gain is subject to capital gains tax? * Gain on sale of domestic bonds considered as capital asset. Gain on sale of real property considered as capital asset which is located in the Philippines. Gain on sale of foreign stocks not traded through the stock exchange All of the above Both a and b only
Other comprehensive income includes the following, except A. unrealized gain on derivative contract designated as cash flow hedge B. loss from translating the financial statements of a foreign operation C. actuarial gain on defined benefit plan that is fully recognized D. dividends paid to shareholders
5 Which of the following changes during a period is not a component of other comprehensive income? Group of answer choices a. Foreign currency translation adjustment b. Remeasurement of defined benefit costs c. Unrealized gain on equity instrument measured at fair value d. though other comprehensive income Treasury shares, at cost6 An entity shall present an analysis of expenses using a classification based on Group of answer choices a. the function of expense b. the nature of expense c. either the nature of expense or the function of expense, whichever the entity would prefer to present d. either the nature of expense or the function of expense, whichever provides information that is reliable and more relevant
The components of other comprehensive income include:a. Changes in revaluation surplusb. Remeasurements of defined benefit plansc. Gains and losses arising from translating the financial statements of a foreign operationd. All of these
Which of the following gain is subject to capital gains tax? * a. Gain on sale of domestic bonds considered as capital asset. b. Gain on sale of real property considered as capital asset which is located in the Philippines. c. Gain on sale of foreign stocks not traded through the stock exchange O d. All of the above 9 O e. Both a and b only
Which of the following is not correct? a.The situs of income on interest is the residency of the debtor b.The location where the intangible is used would determine the situs of royalties c.Dividend income from domestic corporation is always income from within the Philippines d.The situs when it comes to sale of shares is the place where the shares are sold
SHOULD BE PHILIPPINES BASED 1. What are the ordinary and capital assets? 2. Enumerate the two types of capital assets subject to capital gains tax. 3. What are the transaction considered as "other disposition" of domestic stocks? What transactions are not considered as "other dispositions? 4. Discuss the rules on tax basis of stocks acquired by purchase, inheritance, donation, for inadequate consideration, and other tax-free exchange.
8. Imposed on dividend, interest, and royalty payments to foreign investors. This is: a. Border tax b. Transfer tax c. Withholding tax d. Value-added tax.