ACC 311 ch 4 ppt

Translationgainsandlosses onforeigncurrency

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Unformatted text preview: hapter 4-35 $ $ 1,050,000 (50,000) 1,000,000 360,000 (300,000) 1,060,000 Comprehensive Income Comprehensive Income All c h a ng e s in e q uity d uring a p e rio d e xc e p t th o s e re s ulting fro m inve s tm e nts b y o wne rs a nd d is trib utio ns to o wne rs . I ncome St at ement ( in t h o us a nd s ) Sales $ 2 8 5 ,0 0 0 Co s t o f g o o d s s o ld Gr o s s pr o f it Operat ing expenses: 14 9 ,0 0 0 13 6 ,0 0 0 A d ve r t is ing e x pe ns e De pr e c ia t io n e x pe ns e T o t a l o pe r a t ing e x pe ns e I ncome f rom operat ions 10 ,0 0 0 4 3 ,0 0 0 5 3 ,0 0 0 8 3 ,0 0 0 Ot her revenue (expense): I nt e r e s t r e ve nue I nt e r e s t e x pe ns e T o t a l o t h e r I nc o m e b e f o r e t a x e s I nc o m e t a x e x pe ns e N et income Chapter 4-36 17 ,0 0 0 (2 1,0 0 0 ) (4 ,0 0 0 ) 7 9 ,0 0 0 2 4 ,0 0 0 $ 5 5 ,0 0 0 + Other Comprehensive Income Unrealized gains and losses on available­for­sale securities. Translation gains and losses on foreign currency. Plus others Reported in Stockholders’ Equity Comprehensive Income Comprehensive Income Three approaches to reporting Comprehensive Income (SFAS No. 130, June 1997): 1. 2. A combined statement of income and comprehensive income; or 3. Chapter 4-37 A second separate income statement; As part of the statement of stockholders’ equity (eliminated in 2011 FASB update). Comprehensive Income Comprehensive Income Two­Statement Format for Comprehensive Income Chapter 4-38 Comprehensive Income Comprehensive Income Combined Income Statement Combined Income Statement V. Gill I nc . Co m b ine d S t at e m e nt o f Co m p r e h e ns ive I nc o m e Fo r t h e Ye ar End e d De c e m b e r 3 1, 2 0 0 7 S ale s r e ve nue Co s t o f g o o d s s o ld 6 0 0 ,0 0 0 Gr o s s pr o f it...
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