(TCO C) Dolly Company reported the following information for 201X. Sales revenue
ID: 2453679 • Letter: #
Question
(TCO C) Dolly Company reported the following information for 201X.
Sales revenue
$510,000
Cost of goods sold
$400,000
Operating expenses
$50,000
Unrealized holding gain on available-for-sale securities
$45,000
Cash dividends received on the securities
$3,000
For 201X, what would Dolly report as other comprehensive income? (Points : 20)
Sales revenue
$510,000
Cost of goods sold
$400,000
Operating expenses
$50,000
Unrealized holding gain on available-for-sale securities
$45,000
Cash dividends received on the securities
$3,000
Explanation / Answer
Other comprehensive income are those which are not related companies regular operation.
This means except income from operation, all other income and losses are treated other comprehensive income.3
In this case Other comprehensive income = 45,000 + 3000 = $48,000.
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