Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Red Oak Technology Inc. provides the following data for the year • • . Net Income = $185,000 2024: Realized gain on sale of available-for-sale securities = $12,000 Unrealized holding gain during the period on available-for-sale securities = $30,000 Reclassification adjustment for gains included in net income = $9,000 a. Determine Other Comprehensive Income (OCI) for 2024 b. Compute Comprehensive Income for 2024
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Transcribed Image Text:Red Oak Technology Inc. provides the following data for the year • • . Net Income = $185,000 2024: Realized gain on sale of available-for-sale securities = $12,000 Unrealized holding gain during the period on available-for-sale securities = $30,000 Reclassification adjustment for gains included in net income = $9,000 a. Determine Other Comprehensive Income (OCI) for 2024 b. Compute Comprehensive Income for 2024
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