What is the difference between gain and revenue? Are they reported differently on the income statement?

What is the difference between gain and revenue? Are they reported differently on the income statement?

Expert Solution

ekkarill92 answered 2 years ago

What are difference between cashflow statement and income statement?

Dividend revenue and interest revenue are reported in the income statement as a component of a...

Dividend revenue and interest revenue are reported in the income statement as a component of a company's net income True or False

What is the difference between a contribution income statement and a traditional income statement? Under what...

What is the difference between a contribution income statement and a traditional income statement? Under what circumstances would a firm use each?

What is the difference between a multi-step income statement and a single-step income statement? Which one...

What is the difference between a multi-step income statement and a single-step income statement? Which one is preferable?

. What is the difference between the ‘income statement’ approach and the ‘balance sheet’ approach in...

. What is the difference between the ‘income statement’ approach and the ‘balance sheet’ approach in accounting for taxes? 2. Briefly discuss two ‘conceptual concerns’ when accounting for taxes. 3. How are deferred taxes classified on the balance sheet?? 4. How are changes in tax rates accounted for in the deferred tax accounts? How are they treated on the income statement? 5. List and briefly discuss two disclosure items for taxes.

Forecasting A) Dexter Company reported the following 2018 income statement Total revenue $13,256,500 Cost of revenue...

Forecasting A) Dexter Company reported the following 2018 income statement Total revenue $13,256,500 Cost of revenue 7,066,300 Gross profit 6,190,200 Selling and administrative expenses 3,758,200 Operating income 2,432,000 Interest expense 572,800 Income before income taxes 1,859,200 Income tax expense 687,905 Net income $ 1,171,295 Forecast Dexter’s income statement assuming a 5% increase in sales, a 17% effective tax rate, and a continuation of the 2018 percentage relation to net sales for expenses except for interest where the company...

What is the difference between a realized gain/loss and an unrealized gain/loss? Response must be at...

What is the difference between a realized gain/loss and an unrealized gain/loss? Response must be at least 150 words.

Lui Company's 2010 income statement reported total sales revenue of $350,000.

Lui Company's 2010 income statement reported total sales revenue of $350,000. The 2009-2010 comparative balance sheets showed that accounts receivable increased by $20,000. The 2010 "cash receipts from customers" would be: (2 points) a. $270,000 b. $250,000 c. $330,000 d. $40,000

please explain how a difference in income tax expense (amount reported on the income statement) and...

please explain how a difference in income tax expense (amount reported on the income statement) and income tax payable (amount due to IRS) can create either a deferred tax liability or deferred tax asset.

What is the difference between a single-step and a multi-step income statement? What is the same...

What is the difference between a single-step and a multi-step income statement? What is the same about them?

Question