53.Which of the following items would be reported net of tax on the face of the incomestatement?a.Prior period adjustmentb.Unusual gainc.Cumulative effect of a change in an accounting principled.Discontinued operations Show 54.Which of the following items would be reported at its gross amount on the face of theincome statement? Get answer to your question and much more 55.Where must earnings per share be disclosed in the financial statements to satisfygenerally accepted accounting principles? Get answer to your question and much more 56.Which of the following earnings per share figures must be disclosed on the face of theincome statement? Get answer to your question and much more 57.Which of the following earnings per share figures must be disclosed on the face of theincome statement?a.EPS for income before taxes.b.The effect on EPS from unusual items.c.EPS for gross profit.d.EPS for income from continuing operations. S58.Earnings per share should always be shown separately for Get answer to your question and much more P59.A correction of an error in prior periods' income will be reportedIn the income statementNet of tax Get answer to your question and much more 53.Which of the following items would be reported net of tax on the face of the incomestatement?a.Prior period adjustmentb.Unusual gainc.Cumulative effect of a change in an accounting principled.Discontinued operations4 - 12 54.Which of the following items would be reported at its gross amount on the face of theincome statement? Get answer to your question and much more 55.Where must earnings per share be disclosed in the financial statements to satisfygenerally accepted accounting principles? Get answer to your question and much more 56.Which of the following earnings per share figures must be disclosed on the face of theincome statement? Get answer to your question and much more 57.Which of the following earnings per share figures must be disclosed on the face of theincome statement?a.EPS for income before taxes.b.The effect on EPS from unusual items.c.EPS for gross profit.d.EPS for income from continuing operations. S58.Earnings per share should always be shown separately for Get answer to your question and much more P59.A correction of an error in prior periods' income will be reportedIn the income statementNet of tax Get answer to your question and much more
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What is reported net of tax on income statement?Understanding Net of Tax
In the financial industry, gross and net are two key terms that refer to before and after the payment of certain expenses. In general, 'net of' refers to a value found after expenses have been accounted for. Therefore, the net of tax is simply the amount left after taxes have been subtracted.
Which of the following items will be reported on the income statement as part of net income?Gain from selling of assets such as land would be included in the income statement as part of net income under other income.
Which of the following would be reported in income statement?The income statement presents revenue, expenses, and net income. The components of the income statement include: revenue; cost of sales; sales, general, and administrative expenses; other operating expenses; non-operating income and expenses; gains and losses; non-recurring items; net income; and EPS.
Which of the following is included in net income?Net income refers to the amount an individual or business makes after deducting costs, allowances and taxes. In commerce, net income is what the business has left over after all expenses, including salary and wages, cost of goods or raw material and taxes.
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