Answer:
A.) Net income = $10; Comprehensive income = $20.
Explanation:
The gain on sale of investment is recorded in the income statement of the company and thus the gain on sale of investments given in question will increase the net income of the company by $10.
The unrealized gain on investment from increase in fair value is reported in the other comprehensive income section and thus the Unrealized gain on investment from increase in fair value given in the question will increase the other comprehensive income of the company by $20.
So based on the above discussion, the answer is A.) Net income = $10; Comprehensive income = $20.
Post-closing trial balance is a list of <u>permanent</u> accounts and their balances<u> ledger</u> all <u>closing- </u>entries have been journalized and posted.
The post-closing trial balance is a balance sheet report that is made after the closing journal in order to ensure that the total balance in the general ledger is balanced or in accordance with the balance. This method is made in order to convince every accountant or businessman who makes closing journals so that they do not have an error in the calculation difference.
Generally, this balance sheet is able to produce real accounts, namely capital, assets and debt. However, nominal accounts, such as income and expenses, are closed by closing entries. Thus, the next step in making good financial statements is to present a statement of financial position, profit and loss, and capital so that later there will be no calculation errors.
You can learn more about post-closing trial balance here brainly.com/question/14562385
#SPJ4
Answer:
A) improperly; the order should have been placed on Thursday
Explanation:
An agent is someone that is contracted by a client to effectively manage his business interest and also to follow client instruction on time in order to make profit for the client.
In the given scenario the agent received instructions to place an order for the KAPCO stock at whatever price the agent feels is best.
Since they had initially discussed the suitability of the KAPCO stock before now, the agent should have placed the order immediately.
However his delay till Friday resulted in a loss of $2 per share below Thursday's low.
The agent acted improperly.
