What general types of changes in assets and liabilities are not reported as part of net income?

Question:

What general types of changes in assets and liabilities are not reported as part of net income? Where are such excluded items reported?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Intermediate Accounting

ISBN: 978-0071339476

Volume 1, 6th Edition

Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I

See More Books

Question Posted: Feb 17, 2015 07:45 AM

See More Questions

Assets and liabilities are important elements of a companys financial position. a. Define assets. Give three examples of assets other than cash that might appear in the balance sheet of (1) American...
Sal Corporations recorded assets and liabilities are equal to their fair values on July 1, 2011, when Pub Corporation purchases 72,000 shares of Sal common stock for $1,800,000. Identifiable net...
Sal Corporation's recorded assets and liabilities are equal to their fair values on July 1, 2012, when Pub Corporation purchases 36,000 shares of Sal common stock for $900,000. Identifiable net...
Alistair bought a house on 1 April 2000 for 125,000 and occupied the entire house as his principal private residence until 1 November 2008. As from that date, he rented out two rooms (comprising...
List some benefits and drawbacks of recycling wastes. What are the major types of materials recycled from municipal waste, and how are they used?
Why is it important to understand the historical origins of national industrial relations systems? 101-1
1. Estimated revenues for the fiscal year were $250,000 and appropriations were $248,000. 2. The tax levy for the fiscal year, of which 99 percent is believed to be collectible, was $200,000. 3....
Botella Company produces plastic bottles. The unit for costing purposes is a case of 18 bottles.The following standards for producing one case of bottles have been established: Direct materials (4...
please use step by step instructions. thank you! 1. Two firms, Astor Corporation and Beluga Fish Packing Inc., are seeking financing in the fixed rate and floating rate debt markets. Given the rates...
Troys Tires sells a certain brand tire which has a daily demand that is normally distributed, with a mean of 15 tires and a standard deviation of 4 tires. (In your model use integers for all...
Explain the difference between accounting income and economic income.
What are the two sections of the SCI? Explain the nature of the items that go into each section.
Anthony Herrera recently fulfilled his long-time dream of opening a gym that offers spinning exercise classes for $10 per person. To differentiate his gym and better serve his clients, Anthony...
(b) A cylindrical storage tank with base area 90 m is being filled with water through an entry duct with cross-section area 250 cm, as shown in Figure 3. Concurrently, water is being extracted from...
Po A cylinder/piston arrangement contains 5 kg of water at 100 C with x= 20%. Initially the piston of mass m, 75 kg rests on a set of stops (see figure). The outside pressure is 100 kPa, and the area...
TABLE 2 Present Value of an Annuity of $1 n 123456 8% 9% 0.925926 0.917431 4 7 8 9 10 11 12 13 14 15 16 17 11.652296 10.837770 10.105895 9.446649 12.165669 11.274066 10.477260 9.763223 18 19...
There are 4 suits (heart, diamond, clover, and spade) in a 52-card deck, and each suit has 13 cards. Suppose your experiment is to draw one card from a deck and observe what suit it is. Express the...
Write isotopic symbol of zirconium and how many neutrons are present in one atom of this isotope
The following data (and annotations) for March 2019 are for the work-in-process account of the first of Eyring Company's four departments used in manufacturing its only product. Assuming that Eyring...
If a and b are positive numbers, find the maximum value of f ( x ) = x a (9 x ) b on the interval 0 x 9.
Figure P24.57 shows a charged particle surrounded by three different closed surfaces, $(a),(b)$, and $(c)$. In each case, the charge on the particle and the geometry of the left side (left of the...
When wages expense for the year is computed, why are beginning accrued wages subtracted from and ending accrued wages added to, wages paid during the year?
List two types of transactions that would receive different accounting treatment using (a) Strict cash-basis accounting, and (b) A modified cash basis.
List two types of transactions that would receive different accounting treatment using (a) Strict cash-basis accounting, and (b) A modified cash basis.
explain the concept of Time Value of Money and provide and example. In addition to your discussion, please explain the differences between Stocks and Bonds
Wildhorse Inc. has just paid a dividend of $3.80. An analyst forecasts annual dividend growth of 9 percent for the next five years; then dividends will decrease by 1 percent per year in perpetuity....
Jenny wanted to donate to her alma mater to set up a fund for student scholarships. If she would like to fund an annual scholarship in the amount of $6,000 and her donation can earn 5% interest per...

What general types of changes in assets and liabilities are not reported as part of net income?

Question:

Step by Step Answer:

The vast majority of recognized changes in assets and liabilities are r...View the full answer

Intermediate Accounting

Students also viewed these Accounting questions