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Continuing from Question 2... Scenario D: A strike by the employees of a supplier during the month of September 2019 resulted in a pre-tax loss
Continuing from Question 2... Scenario D: A strike by the employees of a supplier during the month of September 2019 resulted in a pre-tax loss of $125,000. This was considered an unusual loss and so was recorded as Other Comprehensive Income 1. Is there an error? [Select] 2. What adjustment (if any) is needed to Desert's ICO for 2019? [Select] 3. What adjustment (if any) is needed to Desert's Comprehensive Income for 2019? [ Select] Continuing from Question 2. Scenario D A strike by the employees of a supplier during the month of September 2019 resulted in a pre-tax loss of $125,000. This was considered an unusual loss and so was recorded as Other Comprehensive Income 1. Is there an error? Yes, this should be reported a: [Select] No, they should have reported it as OCI 2. What adjustment Reduce ICO $87,500 Yes, this should be reported as a part of ICO instead 3. What adjustment No, because it is reported as OCI It must have already been included as ICO Increase Comprehensive Inco Continuing from Question 2... Scenario D A strike by the employees of a supplier during the month of September 2019 resulte pre-tax loss of $125,000. This was considered an unusual loss and so was recorde Other Comprehensive Income. 1. Is there an error? Yes, this should be reported a 2. What adjustment (if any) is needed to Desert's ICO for 2019? Reduce ICO $87,50 [ Select) heeded to Desert's Comprehensive Income for 2019? No adjustment is needed Reduce ICO $125,000 Reduce ICO $87,500 Increase ICO $125,000 Continuing from Question 2. Scenario D A strike by the employees of a supplier during the month of September 2019 result pre-tax loss of $125,000. This was considered an unusual loss and so was recorde Other Comprehensive Income. 1. Is there an error? Yes, this should be reported a 2. What adjustment (if any) is needed to Desert's ICO for 2019? Reduce ICO $87,500 3. What adjustment (if any) is needed to Desert's Comprehensive Income for 2019? Increase Comprehensive Inco [Select] No adjustment needed Increase Comprehensive Income $125,000 Increase Comprehensive Income $87,500
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