Loose Leaf for Fundamentals of Accounting Principles and Connect Access Card
Loose Leaf for Fundamentals of Accounting Principles and Connect Access Card
22nd Edition
ISBN: 9781259542169
Author: John J Wild
Publisher: McGraw-Hill Education
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Chapter 15, Problem 15DQ
To determine

Comprehensive Income:

The income and expenses which has not realized during the accounting period like unrealized gain or loss on available for sale securities, unrealized gains or loss on derivative instruments and foreign currency translation gains or losses. The items are not reported in the income statement along the typical incomes and expenses but it is important for providing a more comprehensive picture of the financial performance of a business.


Determine the amount of foreign currency translation adjustment for the year ended September 28, 2013 and specify whether the adjustment is an unrealized gain or an unrealized loss?

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