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Where do gain of sale of land go on an income statement?

Loss on sale of land is added back to net income in operating activities and sale of land is shown under investing activity as a reduction in amount.


What is material gain from land for public use is reported on the income statement as?

rental income


Land costing $138,463 was sold for $175,514 cash. The gain on the sale was reported on the income statement as other income. On the statement of clash flows, what amount should be reported as an investing activity from the sale of land?

37,051


Which statement best explains why japan invaded inda during world war 2?

Merely to gain more resource income, value, and territory.


Where does gain on sale of investment belong in the elements of financial statements?

Gain on sale of investment is shown in profit and loss account as well as on cash flow from investing activities as well. While making cash flow statement this needs to be deducted from cash flow from operating activities and needs to be shown in cash flow from investing activities


Where do you post unrealized gains and losses in Income Statement?

After you've worked out profit for the year create a new line called "Other Comprehensive Income". Under this put your "Gain/Loss on revaluation" or "Gain/Loss on available for sale investments". Then add on to/take it off your profit for the year to give you "Total Comprehensive Income For The Year".


Are dividends part of comprehensive income?

Dividends act as a debit to Retained Earnings. Net Income is closed out by Crediting a gain to Retained Earnings which is a permenant equity account. Therefore Dividends are not a reduction to Net Income but instead a reduction of Retained Earnings and further of Owners Equity. As you may note, this also means that since Dividends are not included in Net Income they are not Tax Deductable which for many years resulted in double taxation of dividend income. Once at the corporate level and again at the personal level. Ex: In the financial statements it is going to be looking like this: Income Statement: Revenue-Expenses=Net Income Statement of Retained Earnings: Begging Retained Earning+Net Income-Dividends= Ending Retained Earnings


Is the time cost of a lawsuit significant?

The time cost of a lawsuit is significant depending on how long it is and what you stand to gain by filing it. Each case will have it's own time cost factors.


Can a growing difference between net income and cash flow from operations be because of manipulation by management?

Growing difference between net income and cash flow from operations is due to growing amount of non cash items in income statement like depreciation, amortizations, loss on disposal or gain on disposal of asset etc.


What is a disposal account in accounting?

A disposal account is a gain or loss account that appears in the income statement, and in which is recorded the difference between the disposal proceeds and the net carrying amount of the fixed asset being disposed of.


Where does equipment go on the income statement?

It won't. Equipment will be recorded in the Statement of Financial Position (Balance Sheet) as an asset. with regards to the income statement the only entries relating to equipment would be deprecation expense, impairment expense and perhaps revaluation gain (although that would probably go into the Statement of Other Comprehensive Income- depending on policies)


What is the difference between ordinary income and operating income?

Ordinary income refers to any income that is not capital gain. Operating income is how much revenue a company will profit.