contestada

On January 1, 2014, Tri-State Industries had cash and common stock of $180,000. At that date the company had no other asset, liability or equity balances. On January 2, 2014, it purchased $160,000 of equity securities for cash that it classified as available-for-sale. It received cash dividends of $9,000 during the year on these securities. In addition, it had an unrealized holding gain on these securities of $24,000 net of tax. Based on this information, what is the amount of comprehensive income in 2014?

Respuesta :

Answer:

$24,000

Explanation:

Comprehensive income includes all income which is not included in income statement, and as a result increases owner's equity through third party resources.

Here, Comprehensive income shall be:

Unrealized gain on holding such securities $24,000.

As for dividend received amount was invested and the income is realized, the non realized part which is not directly related to the company but is a gain through market is $24,000

Otras preguntas