Solved

By Placing the Letters (A-F) in the Spaces Provided Above

Question 101

Matching

By placing the letters (a-f) in the spaces provided above, identify where the information would be most appropriately reported. If the information would not appear in any of the above components, place an (X) in the space.

Premises:
Loss resulting from earthquake damage
Selling expenses
Loss on sale of plant assets
Unrealized losses due to market value changes in available for sale equity security investments
Correction of a miscount in last year's ending goods-in-process inventory
Cash dividends declared on common stock
Unrealized gains due to foreign currency translation adjustments
Interest revenue
Loss on sale of a major component of the business
How a company defines cash and cash equivalents
Responses:
income from continuing operations or supporting schedules
extraordinary gains or losses
results from discontinued operations
statement of comprehensive income
statement of retained earnings
footnote disclosure

Correct Answer:

Loss resulting from earthquake damage
Selling expenses
Loss on sale of plant assets
Unrealized losses due to market value changes in available for sale equity security investments
Correction of a miscount in last year's ending goods-in-process inventory
Cash dividends declared on common stock
Unrealized gains due to foreign currency translation adjustments
Interest revenue
Loss on sale of a major component of the business
How a company defines cash and cash equivalents
Related Questions

Q94: The following information relates to the

Q95: IFRS content in the income statement is

Q96: The income statement information for 2010 and

Q97: Income measurement is a fundamental accounting concept,

Q98: For income reporting purposes, items can appear

Q99: Which of the following statements regarding a

Q100: Differences that currently exist between IFRS and

Q102: Indicate where each component would be reported

Q103: By placing the letters (a-e) in the

Q104: Match the expense recognition principles to their

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents