A & N Manufacturing, Co. reported the following transactions for the current year: Sales $500,000 Cost...
A & N Manufacturing, Co. reported the following transactions for the current year:
Sales $500,000
Cost of goods sold 300,000
Operating expenses 100,000
Cash dividend 50,000
Unrealized gain on available-for-sale security 10,000
Net realized loss on trading security 20,000
Ignoring income taxes, A & N Manufacturing should report other comprehensive income of:
Multiple Choice
-
$10,000
-
$30,000
-
$60,000
-
$80,000
Homework Answers
Unrealized gain or loss on available for sale securities should be reported under other comprehensive income but gain or loss on trading security is recorded under net income
So Other comprehensive income = Unrealized gain on available for sale security = $10000
So answer is a) $10000
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