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Q5: Explain the difference between comprehensive income and other comprehensive income.
Solution:
Comprehensive income:
Other Comprehensive income:
answer 5. Explain the difference between comprehensive income and other comprehensive income. (1/2 pt) 6. What...
6. What is the relationship between accumulated other comprehensive income (AOCT) and other comprehensive income? Hint: calculate the difference between beginning and ending AOCI. (1/2 pt) 7. In what way is AOCI similar retained earnings, besides the fact that they are both equity accounts? (1/2 pt) 367 MacBook Air
1. What is the relation between Accumulated Other comprehensive Income ( AOCI) and Other comprehensive Income ( OCI) .. 2. . In what way is AOCI similar retained earnings, besides the fact that they are both equity accounts? 3. What are the two formats that companies can use to present their Statement of Comprehensive Income?
Comprehensive Income due 0218 7 points maximum for excellent work default grade B or 6 points for good work 1. What are the two formats that companies can use to present their Statement of Comprehensive Income? 0.3 pts 2. Choose two companies and get their annual reports. 3. For each company, obtain the balance sheet, income statement, and statement of comprehensive income. Put only these pages in a PDF document (or two) and highlight the accounts and other fields (company...
11. What are the two formats that companies can use to present their Statement of Comprehensive Income? 0.3 pts 2. Choose two companies and get their annual reports. 3. For each company, obtain the balance sheet, income statement, and statement of comprehensive income. Put only these pages in a PDF document (or two) and highlight the accounts and other fields (company names and dates) listed in the attached spreadsheet unto the PDF financial statements (for example, net income on the...
What is the difference between Comprehensive Income and Other Comprehensive Income? (include where in the financial statements they are found). Describe the difference between Comprehensive Income and Net Income? What ASC (s) contain significant guidance for Comprehensive Income and Other Comprehensive Income? List at least 5 types of items that belong in Comprehensive Income and Other Comprehensive Income. OCI is presented net of tax—show me an example of how the taxes impact the amount shown and state why “net of...
Accumulated other comprehensive income in stockholders' equity shows the difference between historical cost and market for which account(s)? Select one: A. Trading securities and available-for-sale securities B. Available-for-sale securities C. Trading securities and held-to-maturity securities D. Trading securities E. Held-to-maturity securities
Another topic this week is comprehensive income. Again, please review this week's lesson and attempt this exercise: For the year ended December 31, 201X, Howdy Inc. reported the following. What would Howdy report as the ending balance of retained earnings? Show how the Stockholders' Equity section of the balance sheet should look like. Net income $30,000 Preferred dividends declared $5,000 Common dividend declared $1,000 Unrealized holding loss, net of tax $500 Retained earnings, beginning balance $40,000 Common stock $20,000 Accumulated...
Exercise 18-1 Comprehensive income [LO18-2] The following is from the 2018 annual report of Kaufman Chemicals, Inc.: Statements of Comprehensive Income Years Ended December 31 2018 2017 2016 Net income $ 999 $ 829 $ 684 Other comprehensive income: Change in net unrealized gains on investments, net of tax of $32, ($20), and $22 in 2018, 2017, and 2016, respectively 45 (28 ) 30 Other (3 ) (1 ) 1 Total comprehensive income $ 1,041 $ 800 $ 715 Kaufman...
Benson Company reported the following amounts in its 2017 financial statements? Net income; 7,000 Other Comprehensive Loss: (3,000) AOCI Beginning Balance: 5,000 18. Calculate Benson's AOCI-Ending Balance for 2017? 2,000 b. 9,000 а. 12,000 с. d. Can not be determined 19. Calculate Benson's Comprehensive Income for 2017? (3,000) а. b. 4,000 7,000 с. d. 9,000 2015 2016 2017 (452) (412) (898) Balance at beginning of year (AOCI) Foreign Currency Translation Adjust Cash Flow Hedges, Net of Tax (867) (3) 311...
Which of the following is included in other comprehensive income? 1) Unrealized holding gains and losses on equity securities carried at fair value 2) Unrealized holding gains and losses that result from a debt security being transferred into the trading category from the held-to-maturity category 3)Foreign currency translation adjustments 4) The difference between the accumulated benefit obligation and the fair value of pension plan assets