ACC 309 Final Project Executive Summary.docx - ACC 309 Final Project CHRISTINA CANO SOUTHERN NEW HAMPSHIRE Other comprehensive income for Peyton

ACC 309 Final Project Executive Summary.docx - ACC 309...

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ACC 309 Final Project CHRISTINA CANO SOUTHERN NEW HAMPSHIRE
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Other comprehensive income for Peyton Approved includes Net Income and Other Comprehensive Income. In this case the other comprehensive income is marketable securities which is at a value of $5,500,000.00. The fair market value at the balance sheet day is set at $5,235,000.00 which is recorded as comprehensive income. The unrealized loss, which will then be recorded on the balance sheet, is calculated as the following: Unrealized loss on Market Securities – Available for sale Upon completing the calculations the Unrealized loss will be $265,000.00 (5,500,000 – 5,235,000). The Other Comprehensive Income on the balance sheet will then be the gain/loss of the Unrealized loss. Other Comprehensive income is not recorded because it has not yet been realized. There are three things that make up of other comprehensive income: 1.) pension adjustments, 2.) foreign currency, and 3.) unrealized gain/loses. The rationale in Peyton Approved for recognizing in other comprehensive income is classified as the gain/loss on the balance sheet.
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  • Fall '15
  • Generally Accepted Accounting Principles, Peyton, Governmental Accounting Standards

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