Ask Question
BusinessBusiness
6 September, 16:04

Company X has a Net Income of $120,000, Revenues of $460,000, and a $5,000 gain from a foreign currency translation. What is Company X's total comprehensive income? a. $585,000 b. $125,000 c. $465,000 d. $5,000

+5
Answers (1)
  1. 6 September, 16:06
    0
    Answer: A. $585,000

    Explanation: Company's X comprehensive income would be the sum of the net Income of $120,000, revenues of $460,000, and a $5,000 gain from a foreign currency translation. This gives $585,000.

    Comprehensive income is the changes in a firm's net assets from non-owner sources during a specified time period and includes net income and unrealized income such as foreign currency exchange gains or losses. It is also given as the sum of net income and other categories of items that because they have not been realized, must bypass the income statement. It serves to give a holistic view of a firm's income not fully captured on the income statement. It's also excludes changes in equity caused by the firm for example, the sale of stock or purchase of shares.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Company X has a Net Income of $120,000, Revenues of $460,000, and a $5,000 gain from a foreign currency translation. What is Company X's ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
When the price of movie tickets in a certain town was reduced, the movie-theaters' revenues did not change. This suggests that the demand for movie tickets in that town has a price-elasticity coefficient of 1.0 >1. 0.5 zero
Answers (1)
The following information pertains to Obama Company's outstanding stock for the year just ended: Common stock, $5 par value: Shares outstanding, 1/1 20,000 2-for-1 stock split, 4/1 20,000 Shares issued, 7/1 10,000 Preferred stock, $10 par value, 5%
Answers (1)
Identify 6 characteristics that affect economic growth
Answers (1)
It costs garner company $12 of variable and $5 of fixed costs to produce one bathroom scale which normally sells for $35. a foreign wholesaler offers to purchase 3,000 scales at $15 each.
Answers (1)
Bonnie purchased a new business asset (five-year property) on March 10, 2019, at a cost of $30,000. She also purchased a new business asset (seven-year property) on November 20, 2019, at a cost of $13,000.
Answers (1)
New Questions in Business
If you were using a simple exponential smoothing forecast model (alpha value equal to 0.30) that generated a forecast of 25.
Answers (1)
McMurphy Corporation produces a part that is used in the manufacture of one of its products. The costs associated with the production of 12,000 units of this part are as follows: 36) Direct materials Direct labor Variable factory overhead Fixed
Answers (1)
The basic financial statements include all of the following except: Select one: a. Management's Discussion & Analysis b. Fund-basis financial statements c. Notes to the financial statements d. Government-wide statements e.
Answers (1)
The whole idea behind mass production was to: a. produce goods of the highest possible quality. b. give producers the maximum flexibility to respond to customer preferences. c. make large quantities of a limited variety of products at very low cost.
Answers (1)
Provenzano Corporation manufactures two products: Product B56Z and Product D32N. The company is considering implementing an activity-based costing (ABC) system that allocates its manufacturing overhead to four cost pools.
Answers (1)
Home » Business » Company X has a Net Income of $120,000, Revenues of $460,000, and a $5,000 gain from a foreign currency translation. What is Company X's total comprehensive income? a. $585,000 b. $125,000 c. $465,000 d. $5,000
Sign Up Forgot Password?