What is the difference, if any, between the classification Other Revenue and Expense and the classification Extraordinary
Question:
What is the difference, if any, between the classification Other Revenue and Expense and the classification Extraordinary Gains and Losses?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 92% (14 reviews)
Other Revenue and Expense consists of items that are routine and recurring but ...View the full answer
Answered By
Rukhsar Ansari
I am professional Chartered accountant and hold Master degree in commerce. Number crunching is my favorite thing. I have teaching experience of various subjects both online and offline. I am online tutor on various online platform.
5.00+
4+ Reviews
17+ Question Solved
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
Question Posted:
Students also viewed these Accounting questions
-
What is the difference between independent and mutually exclusive projects? You have just graduated from the MBA program of a large university, and one of your favorite courses was "Today's...
-
You recently went to work for Allied Components Company, a supplier of auto repair parts used in the after-market with products from Daimler, Chrysler, Ford, and other automakers. Your boss, the...
-
What is the difference, if any, between a joint venture and a strategic alliance?
-
An interior room is maintained at an air temperature of 210C by a radiant panel covering one of the room walls, calculate the temperature of the radiant panel necessary to achieve the thermal comfort...
-
When special journals are used, they are usually used to record each of four different types of transactions. What are these four types of transactions?
-
In a survey conducted by the manufacturers of Ultrasheen toothpaste, 65 percent of the dentists randomly sampled preferred that brand over all others. Clearly, Ultrasheen is the brand preferred by...
-
Consider a $2^{2}$ factorial experiment with factors A and B. Show that $I N T(A, B)=I N T(B, A)$. That is, the interaction is symmetric in $\mathrm{B}$ and A.
-
At the start of 2015, the New Orleans Fine Food Company budgeted before-tax income as follows: Actual before tax income for 2015 was: Required Florence Roden, the owner of the company, is pleased...
-
Use the triangle diagrams to help complete the table for the exact trig values. 0 30 45 60 90 0 1 0 45 2 3 2 sin Cos 1 45 60 1 1 tan 0 Section B: Give the exact values. 1) sin 30+ cos 60 4) 2sin 60...
-
What are the two main decisions to be made in the business definition stage of planning a direct marketing strategy?
-
McCormick and Company, Incorporated reported the following in its 2012 Annual Report: Analyze: 1. Based on the information presented above, which categories might require adjusting entries at the end...
-
What accounts appear on the postclosing trial balance?
-
Data below are from recent annual reports for Samsung, Apple, and Google. Required 1. Compute revenue per employee for Samsung for the current year and the prior year. 2. Using revenue per employee,...
-
7. Fundamental Rights can be restricted...... A. contrary to the letter and spirit of the Constitution B. contrary to the requirements of the democratic order of the society C. contrary to the...
-
The fact that some people can afford to live in beautiful homes while others are homeless is an example of an economy facing the question. a. b. C. Od. e. "what" "how" "for whom" "where" "when"
-
New classical economists argue that a tax cut does not shift the aggregate demand curve because: O households increase consumption because they do not know the implications of the tax cut. prices are...
-
What is art? briefly explain.
-
The equilibrium in a competitive market, where all firms are price takers, requires P = MC. Is it possible for all firms to have the same marginal cost? What happens if MCs are different? Is a...
-
Suppose a power plant produces 800 kW of power and is to send that power for many miles over a copper wire with a total resistance of 12 . (a) If the power is sent across the copper wires at 48 kV...
-
Read the Forecasting Supply Chain Demand Starbucks Corporation case in your text Operations and Supply Chain Management on pages 484-485, then address the four questions associated with the...
-
A firm has $90,000 in revenue for the period. Give the entry to close the Fees Income account.
-
The ledger accounts of Perera Company appear as follows on March 31, 20X1: Table Summary: Table consists of 17 rows and 3 columns. Account number, account, and balance are the three column heads. All...
-
The Income Summary and Henry Peterson, Capital accounts for Peterson Production Company at the end of its accounting period follow. Table Summary: Account income summary and account number 399 are...
-
How does the implementation of a centralized database system impact the efficiency and data accuracy in a large retail organization?
-
Identify some processes related to a workplace, assess the benefits and concerns that may arise as a result of the relative sizes of P-time with respect to D-time. In a table include the benefits and...
-
industry competitors and customers analysis & develop a communications pla. Choose any company and analyze its industry, competitors and customers. Then either present theirs communications plan or...
Study smarter with the SolutionInn App