Homework Answers
Dividend received is reported as income in income statement. It increases the net income balance.
Comprehensive income relates to all changes in equity except related to investments or distribution to owners. That means includes net income for the year and other comprehensive income earned during year. Other comprehensive income are income that are not reported in income statement.
- Net income = dividend received = $ 3510
- Comprehensive income = dividend received + unrealized holding gain = 3510 + 6380 = $ 9890
- Other comprehensive income = unrealized holding gain = $ 6380
- Accumulated Other comprehensive at end = Opening balance + Other comprehensive income during year = NIL + 6380 = $ 6380
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