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    Statement of Comprehensive Income

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    Jhie Anne Mayo
    A statement of comprehensive income consists of revenues, gains, losses and other items that change equity over an accounting period. It includes items like income, expenses, net income/loss, and other comprehensive income. The document provides examples of statements of comprehensive income for different companies, showing revenues, expenses by nature, net income/loss calculations, and total comprehensive income. It describes the key elements and components included in a statement of comprehensive income.

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    Statement of Comprehensive Income

    Uploaded by

    Jhie Anne Mayo
    22 views20 pages
    A statement of comprehensive income consists of revenues, gains, losses and other items that change equity over an accounting period. It includes items like income, expenses, net income/loss, and other comprehensive income. The document provides examples of statements of comprehensive income for different companies, showing revenues, expenses by nature, net income/loss calculations, and total comprehensive income. It describes the key elements and components included in a statement of comprehensive income.

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    A statement of comprehensive income consists of revenues, gains, losses and other items that change equity over an accounting period. It includes items like income, expenses, net income/loss, and other comprehensive income. The document provides examples of statements of comprehensive income for different companies, showing revenues, expenses by nature, net income/loss calculations, and total comprehensive income. It describes the key elements and components included in a statement of comprehensive income.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    22 views20 pages

    Statement of Comprehensive Income

    Uploaded by

    Jhie Anne Mayo
    A statement of comprehensive income consists of revenues, gains, losses and other items that change equity over an accounting period. It includes items like income, expenses, net income/loss, and other comprehensive income. The document provides examples of statements of comprehensive income for different companies, showing revenues, expenses by nature, net income/loss calculations, and total comprehensive income. It describes the key elements and components included in a statement of comprehensive income.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 20

    STATEMENT OF

    COMPREHENSIV
    E INCOME
    PAULENE MAE M GOJO CRUZ
    A Statement of
    Comprehensive Income
    consists of all revenues, gains,
    and losses that cause that
    equity account to change at the
    end of the accounting period.
    They are nominal or temporary accounts
    because, at the end of the accounting
    period, balances under these accounts
    are transferred to the Capital Account,
    thus having only temporary amounts
    and resulting in zero balances at the
    beginning of the following year.
    The elements of Comprehensive
    Income are as follows:
    1. Heading is composed of the
    company name, the SCI title, and
    the date starts with for the period
    ended (date).
    •2. Income is increases in
    economic benefits during the
    period in the form of inflows or
    enhancement of assets or
    decreases of liabilities that result
    in increases in equity, other than
    those relating to investments by
    the business owners.
    •3. Expenses are decreases in
    economic benefits during the
    period in the form of outflows or
    depletions of assets or increases
    of liabilities that result in
    decreases in equity, other than
    those relating to distributions to
    the business owners.
    •4. Net Income (Net Loss) is
    the result of operation. If the
    income is greater than the
    expenses, then the result is net
    income while if the expenses
    are greater than income, then
    the result is net loss.
    Under the nature of expense method,
    expenses are presented according to
    their nature (for example,
    depreciation, purchase of materials,
    transport costs, employee benefits and
    advertising costs) and are not
    reallocated among their functions
    within the entity.
    There are two (2) forms of Statement of
    Comprehensive Income, namely:
    1.Single-step form - to be used in service
    concern or merchandising business under
    “perpetual inventory system”.
    2.Multiple-step form -1 to be used in
    merchandising business under” periodic
    inventory system”.
    A SCI shows expenses by their nature is referred to as Single-
    Step Approach
    AYOS Company
    Statement of Comprehensive Income
    For the period ended December 31, 2019

    Income Php5,000.00
    Expenses (1,500.00)
    Profit for the year Php3,500.00
    Other Comprehensive Income 500.00

    Total Net Income Php4,000.00


    ADRIAN TRANSPORT
    STATEMENT OF COMPREHENSIVE INCOME
    For the period January 31, 2020

    Service Revenue Php50,000.00

    Expenses

    Salaries Expense Php15,000.00


    Rent Expense 10,000.00
    Utilities Expense 5,000.00 30,000.00

    Net Income/(Net Loss) Php20,000.00


    Add Other Comprehensive Income 4,000.00
    Total Net Income Php24,000.00
    ==========
    FORMULA:

    Income - Expenses +
    Comprehensive Income =
    Net Income or Net Loss
    1. Service Income ???
    Expenses (Php10,000.00)
    Net Income/(Net Loss) Php25,000.00

    2. Service Income Php35,000.00


    Expenses (Php15,000.00)
    Net Income/(Net Loss) Php20,000.00
    Other Comprehensive Income Php5,000.00
    Comprehensive Income ???
    3 Service Income Php65,000

    Expenses ???
    Net Income/(Net Loss) Php18,000
    Other Comprehensive 2,000
    Income
    Comprehensive Income Php20,000
    4. Service Income Php58,000

    Expenses (Php38,0000)
    Net Income/(Net Loss) ???
    Other Comprehensive Income Php10,000
    Comprehensive Income Php30,000

    5. Service Income Php80,000


    Expenses (Php120,000)
    Net Income/(Net Loss) ______________
    Directions: Prepare a Statement of
    Comprehensive Income for the following
    independent transactions. Use your surname as
    your company name.
    1. Service Revenue Php95,000.00
    2. Salaries Expense Php5,000.00
    3. Transportation Expense Php15,000.00
    4. Rent Expense Php20,000.00;
    5. Utilities Expense Php3,000.00;
    6.OtherComprehensive Income Php8,000.00
    Prepare a Statement of Comprehensive
    Income
    1.Salaries Expense Php25,000.00;
    2. Transportation Expense
    Php1,000.00
    3. Rent Expense Php10,000.00;
    4. Utilities Expense Php5,000.00;
    Prepare a Statement of Comprehensive Income

    1. Service Revenue Php95,000.00;


    2. Salaries Expense Php5,000.00;
    3. Transportation Expense Php15,000.00;
    4. Rent Expense Php20,000.00;
    5. Utilities Expense Pph3,000.00;
    6. Other Comprehensive Income is
    Php8,000.00

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