Question: $8$ Burns Corp. had the following items:

Sales revenue

Loss on early extinguishment of bonds

Realized gain on sale of available$-$for$-$sale securities

Unrealized holding loss on available$-$for$-$sale debt

securities

$$45,000$

$36,000$

$28,000$

Loss on write$-$down of inventory

Loss on write$-$down of inventory

$17,000$

Which of the following amounts would the statement of comprehensive income

report as other comprehensive income or loss?

A$.$ $$11,000$ other comprehensive income.

B$.$ $$16,900$ other comprehensive income.

C$.$ $$17,000$ other comprehensive loss.

D$.$ $$28,100$ other comprehensive loss.

Question: $9$ Data regarding Ball Corp.$\text{'}$s investment in available$-$for$-$sale debt securities

$2\mathrm{.}4\mathrm{.}77$ follow:

Cost $,$ Fair Value

December $31,$ Year $3$$$150,000$$$130,000$

December $31,$ Year $4,150,000,160,000$

Differences between cost and fair values are not due to credit losses. The decline

in fair value was properly accounted for at December $31,$ Year $3.$ Ball's Year $4$

statement of changes in equity should report an increase of

A$.$ $$30,000$

B$.$ $$20,000$

C$.$ $$10,000$

D$.$ $$0$

Question: $10$ Hahn Co$.$ prepared financial statements on the cash basis of accounting. The

$2\mathrm{.}5\mathrm{.}86$ cash basis was modified so that an accrual of income taxes was reported. Are

these financial statements in accordance with the modified cash basis of

accounting?

A$.$ Yes.

B$.$ No$,$ because the modifications are illogical.

C$.$ No$,$ because there is no substantial support for recording income taxes.

D$.$ No$,$ because the modifications result in financial statements equivalent to

those prepared under the accrual basis of accounting. what are the correct answers?