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A company reports the following information as of December 31:

Sales revenue            $800,000

Cost of goods sold      600,000

Operating expenses      90,000

Unrealized holding gain on available-for-sale securities, net of tax30,000 What amount should the company report as comprehensive income as of December31?

A. $30,000

B. $110,000

C. $140,000

D. $200,000

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Question ajoutée par Utilisateur supprimé
Date de publication: 2015/02/27
Tonny  Muteesasira
par Tonny Muteesasira , Laundry Attendant , Transguard Group

The company report as comprehensive income as of December 31 Is C.

Angelo Di Pietro
par Angelo Di Pietro , Entrepreneur , A2 di Di Pietro Angelo, Milano

the Solution to above question is C 

Ernest Danquah
par Ernest Danquah , Pioneer food cannery Limited ( Thai Union Group)

The answer will definatly be B $110,000

Ahmad Shamim
par Ahmad Shamim , R&D ENGINEER , ALSTOM POWER

Correct answer is C. $ 140, 000

IFE DAVID
par IFE DAVID , business studies teacher , ALITQAN AMERICAN SCHOOL, SHARGER, UAE.

C, =$140,000

 

800-600=200

200-90=110

110+30= 140

rimsha gilani
par rimsha gilani , customer service representative , National Bank Of Pakistan

i will go with C, The income will be 140,000

Christine Hanna Gonzales CPA CMA
par Christine Hanna Gonzales CPA CMA , Accounts And Finance Manager , Prime Financial Solutions LLC

C. 140,000 Sales revenue $800,000 Cost of goods sold -600,000 Operating expenses -90,000 Unrealized holding gain on AFS, net of tax +30,000 Net $140,000

Gopalakrishnan Aramutham
par Gopalakrishnan Aramutham , head of electrical maintenance engineer , Natesan synchrocones pvt ltd and Elroi enterprises

HI I wish to go with B $140.000

Ibrahim Cheikhabdou
par Ibrahim Cheikhabdou , Controller , Bearing Bronze Ltd

Unrelized gain on short term term investment is a non taxable gain unless it is relaized, however I would assume that company follows IFRS as an accounting framework, and they deferred taxes, therefore comprehensive income shall be

(800K-600K-90K+ 30K ) =140K

Saif Alawneh
par Saif Alawneh , Cashier , Al-farid General Supplies

B, after Subtracting costs and expenses we get 110,000$

Abdullah Ghani
par Abdullah Ghani , Internal Auditor , Crowe

The unrealised holding gain would be added to the Net Profit and hence the comprehensive income would increase to $140,000

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