Question

Szuba Corporation reported the following transactions for the current​ year:

Sales	​$500,000
Cost of goods sold	​300,000
Operating expenses	​100,000
Cash dividend	​50,000
Unrealized gain on​ available-for-sale security	​10,000
Unrealized gain on trading security	​20,000

Ignoring income​ taxes, Szuba should report other comprehensive income​ of:

$10,000

Your answer is correct.

B.

​$80,000

C.

​$60,000

D.

​$30,000

Answer 1

The total comprehensive income statement has two sections one Income statement and second
other comprehensive income. Income statement shows the net income or loss whereas other comprehensive income
shows revenue and expenses of the company which yet not realised or finalised.
As per US GAAP
The unrealized gain on available-for-sale security will be reported under other comprehensive income.
Which is $10000
Correct Option : A) $10000