Answer
a.This unusual loss belongs to the “Other Expenses and losses” category. Tax is not deducted when reporting it.
b. This relates to the net loss or net income that is allocated to those who own the non-controlling interest. Consequently, the portion meant for this item is deducted from the total net income. What remains is attributed to the stockholders of an entity.
c. To determine the Earnings per share, the result from the deduction (net income subtract preferred dividends) is divided by the common shares outstanding. The number of the common shares is a weighted average. The EPS is reported after the net income.
d. This gain is infrequent; thus, it will be categorized under “Other revenues and gains”.
Work Step by Step
a.This unusual loss belongs to the “Other Expenses and losses” category. Tax is not deducted when reporting it.
b. This relates to the net loss or net income that is allocated to those who own the non-controlling interest. Consequently, the portion meant for this item is deducted from the total net income. What remains is attributed to the stockholders of an entity.
c. To determine the Earnings per share, the result from the deduction (net income subtract preferred dividends) is divided by the common shares outstanding. The number of the common shares is a weighted average. The EPS is reported after the net income.
d. This gain is infrequent; thus, it will be categorized under “Other revenues and gains”.
