Make a Statement of Comprehensive Income.

Q: What are the measurement alternatives involved with using ROA as a performance measure? For example,…

A: The return on asset is the financial ratio that is used by the company in order to analyse how…

Q: To arrive at comprehensive income, additional items are included

A: Income statement: It is one of the financial statements prepared by an organization. This statement…

Q: Explain the following measurement bases of the elements of financial statements and indicate how…

A: Financial statements are prepared by businesses to estimate the true and fair view of the financial…

Q: Explain the components of income from continuing operations.

A: Continuing operations: The portions of the business which are expected to operate in the future are…

Q: Explain how to prepare multi-step income statement.

A: While preparing the multi-step income statement, there are 8 steps to follow.In a multi-step income…

Q: Define financial data.

A: Financial Data means the unaudited salary explanations identifying with activity of the property for…

Q: According to our authors, define and provide an example of “comprehensive income.”

A: Comprehensive Income: The term "comprehensive income" refers to the combination of "net income" and…

Q: C. Assets

A: Revenue - Revenues are incomes and increase in the assets of the business . It can also be said as…

Q: which of the following would be considered in the calculation of gross profit?  Sales and returns…

A: Gross Profit is the operating profit calculated by deducting the cost of goods sold from the revenue…

Q: Explain the difference between statement of financial position and statement of comprehensive…

A: The statement of comprehensive income represents the entity's financial performance (profitability)…

Q: Briefly describe this income statement in one sentence.

A: Introduction:- Income statement shows company's income and expenses over a period of time. Formula…

Q: Define cash-basis net income.

A: Cash basis of accounting: Cash basis of accounting refers to the recognition of financial…

Q: Compute accounting rate of return and explain its use.

A: Accounting rate of return in simple terms is an average rate of return of return from an investment.…

Q: How to determine the timing and measurement of revenue.

A: Revenue recognition principle is the principle that determines when and how much amount should be…

Q: Based on what you do, how will you describe statement of comprehensive income?

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: • distinguish between the operating and non-operating components of the income statement

A: Income statement: The financial statement which reports revenues and expenses from business…

Q: Mention the key features of the Income and Expenditure Account.

A: Lets understand the basics. Income and expenditure account is a account prepared for non trading…

Q: Make your own income statement

A: A statement of income is a financial document that identifies the income and expense of the company.…

Q: Define the following and their differences : 1. statement of comprehensive income 2. statement of…

A: Statement of comprehensive income and statement of financial position are components of financial…

Q: How to do income statement? Step by step

A: Following is the procedure to prepare an income statement

Q: rite a short note on "Profitability Ratios"

A: Profitability ratio shows the ability and efficiency of the firm and show how much are the expenses…

Q: Describe the basic format of an income statement, listing all its sections.

A: Income statement Income statement is refer as the statement which summarizes the revenue and…

Q: Briefly explain the difference between the single-step and multiple-step income statement formats.

A: Definition:

Q: Explain an example how to calculate accounting rate of return.

A: The accounting rate of return (ARR) is the percentage rate of return expected on investment or asset…

Q: purchase Returns & Allowances appears where on an Income Statement?

A: The income statement is the financial statement of the business which shows about the profitability…

Q: Choose a financial ratio, describe what financial statement each variable in the ratio comes from,…

A: A financial ratio is a quantitative measure used to analyze and assess various aspects of a…

Q: If a functional expense classification is used for the statement of comprehensive income, what must…

A: Expenses: Expenses means money spent for getting revenue to the entity. It involves cost of…

Q: Net net profit is computed in the

A: Net profit in computed in the Income statement or profit and loss statement .  The format of the…

Q: Explain the basic features of Income and Expenditure Account and ofReceipt and Payment Account.

A: Explain the basic features of Income and Expenditure Account and of Receipt and Payment Account.

Q: When should an average amount be used for the numerator or denominator? When the denominator is a…

A: The average amount is used for maintaining the nearest accuracy of the financial ratio. It helps the…

Q: Describe the multi-step income statement.

A: