Multi step income statement: A multiple step income statement refers to the income statement that shows the operating, and non-operating activities of the business, under separate head. In different steps of the multi-step income statement, principal operating activities are reported that starts from the record of sales revenue with all contra sales revenue account like sales returns, allowances and sales discounts. Comprehensive income statement: A Comprehensive income statement refers to that form of the income statement which includes other comprehensive income items (unrealized losses and gains due to adjusting entries ) in net income to compute comprehensive income. To Prepare: Multiple-Step Income Statement and Comprehensive Income Statement.

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Chapter 5, Problem 5.5DIE

To determine

Multi step income statement: A multiple step income statement refers to the income statement that shows the operating, and non-operating activities of the business, under separate head. In different steps of the multi-step income statement, principal operating activities are reported that starts from the record of sales revenue with all contra sales revenue account like sales returns, allowances and sales discounts.

Comprehensive income statement: A Comprehensive income statement refers to that form of the income statement which includes other comprehensive income items (unrealized losses and gains due to adjusting entries) in net income to compute comprehensive income.

To Prepare: Multiple-Step Income Statement and Comprehensive Income Statement.

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Question

Chapter 5, Problem 5.5DIE

To determine

Multi step income statement: A multiple step income statement refers to the income statement that shows the operating, and non-operating activities of the business, under separate head. In different steps of the multi-step income statement, principal operating activities are reported that starts from the record of sales revenue with all contra sales revenue account like sales returns, allowances and sales discounts.

Comprehensive income statement: A Comprehensive income statement refers to that form of the income statement which includes other comprehensive income items (unrealized losses and gains due to adjusting entries) in net income to compute comprehensive income.

To Prepare: Multiple-Step Income Statement and Comprehensive Income Statement.

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Answer 3

Question

Chapter 5, Problem 5.5DIE

To determine

Multi step income statement: A multiple step income statement refers to the income statement that shows the operating, and non-operating activities of the business, under separate head. In different steps of the multi-step income statement, principal operating activities are reported that starts from the record of sales revenue with all contra sales revenue account like sales returns, allowances and sales discounts.

Comprehensive income statement: A Comprehensive income statement refers to that form of the income statement which includes other comprehensive income items (unrealized losses and gains due to adjusting entries) in net income to compute comprehensive income.

To Prepare: Multiple-Step Income Statement and Comprehensive Income Statement.

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Answer 4

Question

Chapter 5, Problem 5.5DIE

To determine

Multi step income statement: A multiple step income statement refers to the income statement that shows the operating, and non-operating activities of the business, under separate head. In different steps of the multi-step income statement, principal operating activities are reported that starts from the record of sales revenue with all contra sales revenue account like sales returns, allowances and sales discounts.

Comprehensive income statement: A Comprehensive income statement refers to that form of the income statement which includes other comprehensive income items (unrealized losses and gains due to adjusting entries) in net income to compute comprehensive income.

To Prepare: Multiple-Step Income Statement and Comprehensive Income Statement.

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Answer 5

Chapter 5, Problem 5.5DIE

To determine

Multi step income statement: A multiple step income statement refers to the income statement that shows the operating, and non-operating activities of the business, under separate head. In different steps of the multi-step income statement, principal operating activities are reported that starts from the record of sales revenue with all contra sales revenue account like sales returns, allowances and sales discounts.

Comprehensive income statement: A Comprehensive income statement refers to that form of the income statement which includes other comprehensive income items (unrealized losses and gains due to adjusting entries) in net income to compute comprehensive income.

To Prepare: Multiple-Step Income Statement and Comprehensive Income Statement.

Answer 6

Chapter 5, Problem 5.5DIE

To determine

Multi step income statement: A multiple step income statement refers to the income statement that shows the operating, and non-operating activities of the business, under separate head. In different steps of the multi-step income statement, principal operating activities are reported that starts from the record of sales revenue with all contra sales revenue account like sales returns, allowances and sales discounts.

Comprehensive income statement: A Comprehensive income statement refers to that form of the income statement which includes other comprehensive income items (unrealized losses and gains due to adjusting entries) in net income to compute comprehensive income.

To Prepare: Multiple-Step Income Statement and Comprehensive Income Statement.

Answer 7

Chapter 5, Problem 5.5DIE

To determine

Multi step income statement: A multiple step income statement refers to the income statement that shows the operating, and non-operating activities of the business, under separate head. In different steps of the multi-step income statement, principal operating activities are reported that starts from the record of sales revenue with all contra sales revenue account like sales returns, allowances and sales discounts.

Comprehensive income statement: A Comprehensive income statement refers to that form of the income statement which includes other comprehensive income items (unrealized losses and gains due to adjusting entries) in net income to compute comprehensive income.

To Prepare: Multiple-Step Income Statement and Comprehensive Income Statement.

Answer 8

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