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Greenfield Corporation had other comprehensive income of $8,000, ($12,000) and $10,000 during 2005, 2006 and 2007,...

Greenfield Corporation had other comprehensive income of $8,000, ($12,000) and $10,000 during 2005, 2006 and 2007, respectively.

(a) How much is accumulated other comprehensive income for 2005?

(b) How much is it for 2006?

(c) How much is it for 2007?

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Answer #1

(a) How much is accumulated other comprehensive income for 2005?

$8,000.

(b) How much is it for 2006?

Other comprehensive income for 2005. $8,000

Other comprehensive income for 2006. (12,000 )

Accumulated other comprehensive -

Income for 2006. ($4,000).

(c) How much is it for 2007?

Accumulated other comprehensive -

Income for 2006. ($4,000)

Other comprehensive income for 2007. 10,000

Accumulated other comprehensive -

Income for 2007. $6,000

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