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Which of the following changes during a period is not a component of other comprehensive income?...

Which of the following changes during a period is not a component of other comprehensive income?

1) Pension liability adjustment for funded status of plan

2) Treasury stock, at cost

3) Foreign currency translation adjustment

4) Reclassification adjustment, for debt securities gain transferred to net income

business   accounting   
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Answer #1

Answer

--Correct Answer = Option #2: Treasury Stock, at cost is NOT a component of Other Comprehensive income.

--When treasury stock is purchases, it is accounted for in the Stockholder's equity section as a deduction from it.
--When these are re issued, any excess payment received on re issue over cost is accounted for in "Paid in Capital", and any less amount is adjusted in Retained earnings.

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