Identify whether the following items in comprehensive income will be reclassified to net income or not reclassified.

Question:

Reclassifled Not Reclassifled 1. FVOCI financial asset 2. Foreign currency translation subsidiary 3. Cash flow hedges 4. Revaluation surplus 5. Net actuarial loss pension plan

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Intermediate Accounting Volume 1

ISBN: 9781260306743

7th Edition

Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod Dick

See More Books

Question Posted: Jun 26, 2020 07:57 AM

See More Questions

Identify whether the following items belong in comprehensive income or net income. Comprehenslve Income Net Income 1. Unrealized gain FVOCI financial asset 2. Loss on sale of machinery 3. Interest...
Identify whether the following accounts would be included on a post-closing trialbalance. Post-Closing Trial Balance Account Title Yes No 0. Example: Cash a Income from Services b. Prepaid Insurance...
Identify whether the following accounts would be included on a postclosing trial balance. Post-Closing Trial Balance Account Title Yes No 0. Example: Cash a Service Revenue b. Prepaid Insurance c....
Explain the purpose of each of the following accounts used in a public share issue: Share Capital, Application, Cash Trust, Allotment, Call, Calls in Advance.
Explain how the end point is detected in a Karl Fischer titration in Figure 16-32. Figure 16-32 Pt electrodes for coulometric Pt electrodes for generation of l, bipotentiometric end-point detection -...
What information could one gather to illustrate the influence of tools on technical communication practice?
You are working on charge-storage devices for a research center. Your goal is to store as much charge on a given device as possible. The facilities allow you to generate almost any potential...
The following information was taken from Lamberson Companys accounting records: Additional information for the year: a. b. Dividends declared and paid totaled $700. c. On January 1,2016, convertible...
Microsoft Corporation makes Xbox video game consoles. For Microsoft's financial year YYYY, please make use of the following provided information regarding the inventory of those Xbox consoles:...
Distinguish among the value chain, the supply chain, and the distribution chain.
What monosaccharides form the same osazone as D-sorbose?
On 1 April 2015 Ski Inc. (SI) announced that it was going to sell its two ski clubs that were in Western Canada. The western market is very competitive for many ski clubs. SI has decided to focus...
The following table indicates the percentage of residential electricity consumption in the United States, in a recent year organized by type of use. a. Construct a bar chart, a pie chart, and a...
A company recorded the following production costs during the previous two-week period: Week 1 Week 2 Direct labor costs 17,000 33,000 Other manufacturing costs 25,000 48,333 Units produced 3,000...
discuss the concept of institutional isomorphism and its implications for the homogenization of organizational structures, practices, and cultures across diverse social institutions?
Green Company provides the following information about its single product. Targeted operating income Selling price per unit Variable cost per unit Total fixed cost $653,010 $7.45 $5.80 $98,010 How...
How do social institutions perpetuate and reproduce systems of inequality, and what mechanisms are at play in the institutionalization of privilege and marginalization?
The total of the figures on the left side of an Accounts Receivable account is $35,800. The total of the figures on the right side is $15,100. The balance of this account A.is $20,700 and would be...
A circular loop of wire rests on a table. A long, straight wire lies on this loop, directly over its center, as the drawing illustrates. The current I in the straight wire is decreasing. In what...
What are current assets and current liabilities? How are they different from non-current assets and non-current liabilities?
Hull Company's record of transactions concerning part X for the month of April was as follows. Instructions: a. Calculate the inventory at April 30 on each of the following bases. Assume that...
Gamers' World buys 1,000 computer game CDs from a distributor that is discontinuing those games. The purchase price for the lot is $7,500. Gamers' World will group the CDs into three price categories...
More & More Limited uses a periodic inventory system. On June 24, the company sold 600 units. The following additional information is available: (a) Calculate the June 30 inventory and the June cost...
what are the comparisons between the Linux Kernel , Linux System , Linux Distributions , Linux Licensing ?
What are the ethical, cultural, and socioeconomic dimensions of biodiversity conservation, including indigenous rights, traditional ecological knowledge, and the equitable distribution of...
Describe the common Linux file systems Describe the Linux Logical Volume Manager Explain the Linux boot process List and Describe the Linux file system organization Explain methods to locate Linux...

Identify whether the following items in comprehensive income will be reclassified to net income or not reclassified.

Question:

Reclassifled Not Reclassifled 1. FVOCI financial asset 2. Foreign currency translation subsidiary 3. Cash flow hedges 4. Revaluation surplus 5. Net actuarial loss pension plan

Step by Step Answer:

1 FVOCI financial asset Reclassified to net income 2 Fore...View the full answer

Intermediate Accounting Volume 1

Students also viewed these Business questions