9th Edition

ISBN: 9781260216141

Author: SPICELAND

Publisher: MCG CUSTOM

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Textbook Question

Chapter 18, Problem 18.3E

Earnings or OCI?

• LO18–2

Indicate by letter whether each of the items listed below most likely is reported in the income statement as Net Income (NI) or in the statement of comprehensive income as Other Comprehensive Income (OCI).

Items

_____ 1. Increase in the fair value of available-for-sale debt securities

_____ 2. Gain on sale of land

_____ 3. Loss on pension plan assets (actual return less than expected)

_____ 4. Adjustment for foreign currency translation

_____ 5. Increase in the fair value of investments in common stock securities

_____ 6. Loss from revising an assumption related to a pension plan

_____ 7. Loss on sale of patent

_____ 8. Prior service cost in defined benefit pension plan

_____ 9. Increase in the fair value of bonds outstanding due to change in general interest rates; fair value option

_____ 10. Gain on postretirement plan assets (actual return more than expected)

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Chapter 18, Problem 18.2E

Chapter 18, Problem 18.4E

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Chapter 18 Solutions

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Solution Summary: The author identifies whether each item is reported as net income or other comprehensive income (OCI).

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