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3 years ago

Do entities report revenues, expenses, gains, and losses in net income or other comprehensive income? Explain.

Business

1 answer:

I am Lyosha [343]3 years ago

3 0

Answer:

Revenue Expenses in net income

Gain / losses in Other comprehensive income

Explanation:

Revenue and Expenses of an entity is reported in the net income section of income statement. the second section of income statement deals with unrealized gains / losses and any gain or losses from discontinuing operations as well. Net income also added to the other comprehensive income to calculate total net income or total comprehensive income.

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Typically, most network television advertising time is sold as

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Commercials? idk look it up. (not on brainly lol)

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3 years ago

Identify which of the following items would be reported in the balance sheet:a. Cash d. Wage expense g. Net incomeb. Sales e. Wa

djverab [1.8K]

Answer:

Items reported in the balance sheet are:

3. a, c, e, f, and h

Explanation:

a) Data and Selection:

a. Cash

b. Sales

c. Long-term debt

d. Wage expense

e. Wages payable

f. Retained earnings

g. Net income

h. Inventory

i. Cost of goods sold

a. Cash

c. Long-term debt

e. Wages payable

f. Retained earnings

h. Inventory

b) Items reported in the balance sheet are items that are assets, liabilities, or equities. These items are permanent items, which have their balances taken to the next accounting period. Non balance sheet items are reported in the income statement. They are closing or temporary items that do not have balances taken to the next period.

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3 years ago

On January 1, 2013, Goll Corp. issued 3,000 of its 10%, $1,000 bonds for $3,120,000. These bonds were to mature on January 1, 20

LiRa [457]

Answer:

$24,000 Gain

Explanation:

Given that,

Bonds issued = 3,000

Par value = $1,000

Value of issued bonds = $3,120,000

Goll's gain in 2018 on this early extinguishment of debt:

= Issue price of bonds - Premium amortized - Callable value

= $3,120,000 - [($3,120,000 - $3,000,000) × 11/20] - (3,000 × $1,000 × 1.01)

= $3,120,000 - $66,000 - $3,030,000

= $24,000 Gain

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2 years ago

What osi layer encrypts data sent from network

Lelechka [254]

The sixth OSI layer.
It formats and encrypts data that gets sent across a network.
Can also be called the syntax layer.

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2 years ago

The average price of milk increased from $3.00 last year to $3.50 this year. This most likely due to:

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The answer is: inflation

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2 years ago

Do entities report​ revenues, expenses,​ gains, and losses in net income or other comprehensive​ income? Explain.

Do entities report revenues, expenses, gains, and losses in net income or other comprehensive income? Explain.