Consider the following two separate events for a company during the year:
1. Gain on sale of investments = $10.
2. Unrealized gain on investment from increase in fair value = $20.
The company reports the unrealized gain as a component of other comprehensive income. By how much would these two events increase net income and comprehensive income, ignoring tax effects?
A.) Net income = $10; Comprehensive income = $20.
B.) Net income = $10; Comprehensive income = $30.
C.) Net income = $30; Comprehensive income = $30.
D.) Net income = $30; Comprehensive income = $20.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Consider the following two separate events for a company during the year: 1. Gain on sale of investments = $10. 2. Unrealized gain on ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Which of the following is false? a. In the long run, demand curves become more elastic b. Products with many complements have less elastic demand c. Products with more close substitutes have more elastic demand d.
Answers (1)
A company purchased a tract of land on which it expects to build a production plant in approximately five years. During the five years before construction, the land will be idle. In what classification should the land be reported?
Answers (1)
Consider the market for dog walkers that is currently in equilibrium. If the government institutes a minimum wage that is below the market wage, what will be the consequence for dog walkers? Select the correct answer below: A.
Answers (1)
Payments made to a foreign country without receiving a direct good or service in return are called
Answers (1)
The company town, in which a major employer builds homes and commercial buildings, and provides the goods and services needed by its employees, is an example of paternalistic social responsibility. A) True B) False
Answers (1)
New Questions in Business
Culture is important in communication because a competent speaker ... A. tries to be sensitive to all cultures represented B. is knowledgeable about every culture C. avoids cultural topics D. defends his/her own culture
Answers (1)
Bancroft & Morrison Inc., as an organization, believes that it should always be prepared for the future.
Answers (1)
In Year 1, Costello Company performed work for a customer and billed the customer $14,000. In Year 2, the customer pays Costello Company for the services it rendered in Year 1.
Answers (1)
What is the difference between a business model and an ebusiness model? Multiple Choice An ebusiness model details how a company creates, delivers, and generates revenue;
Answers (1)
How accurately do gdp statistics portray the economy and why?
Answers (1)