Listed below are several terms and phrases associated with income statement presentation and the statement of cash flows

Listed below are several terms and phrases associated with income statement presentation and the statement of cash flows. Pair each item from List A (by letter) with the item from List B that is most appropriately associated with it.

List A List B 1. Intraperiod tax allocation a. An other comprehensive income item. b. Starts with net income and works backwards to convert to 2. Comprehensive income 3. Unrealized gain on debt securities cash. c. Reports the cash effects of each operating activity directly on 4. Operating income 5.

Solutions

Expert Solution

1. Intra period Tax Allocation - Associates tax with income statement item

2. Comprehensive income - Total non-owner change in equity

3. Unrealized holding gain on investments - Unusal, infrequant, and material, gains and losses.

4. Operating income - Directly related to principal revenue generating activities.

5. A discounted operation - A component of equity

6. Earnings per share - Required disclosure for publicly traded corporation

7. Prior Period adjustment - Correction of a material error of a prior period

8. Financing activities - Related to the external financing of the company

9. Operating activities (SCF) - Related to the transactions entering into the determination of et income.

10. Investing activities - Related to the acquisition and disposition of long-term assets.

11. Direct method - Reports the cash effects of each operating on investing activity directly on the statement.

12. Indirect method - Starts with net income and works backwards to convert to cash.

. Intra period Tax Allocation - Associates tax with income statement item

Raffay answered 1 year ago

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