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MMLU / Palmyra Co. has net income of 11,000,apositive1,000 net cumulative effect…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

Palmyra Co. has net income of 11,000,apositive11,000, a positive 1,000 net cumulative effect of a change in accounting principle, a 3,000unrealizedlossonavailable−for−salesecurities,apositive3,000 unrealized loss on available-for-sale securities, a positive 2,000 foreign currency translation adjustment, and a $6,000 increase in its common stock. What amount is Palmyra’s comprehensive income?
Plain-text mathematical notation (without MathML)
Palmyra Co. has net income of 11,000,apositive1,000 net cumulative effect of a change in accounting principle, a 3,000unrealizedlossonavailable−for−salesecurities,apositive2,000 foreign currency translation adjustment, and a $6,000 increase in its common stock. What amount is Palmyra’s comprehensive income?
Original LaTeX notation
Palmyra Co. has net income of $11,000, a positive $1,000 net cumulative effect of a change in accounting principle, a $3,000 unrealized loss on available-for-sale securities, a positive $2,000 foreign currency translation adjustment, and a $6,000 increase in its common stock. What amount is Palmyra’s comprehensive income?

choices

  1. $4,000
  2. $10,000
  3. $11,000
  4. $17,000

subject

professional_accounting

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Source and history

task_id
4a8e08f7-525d-517f-93c1-7dd2b5dc7dc6
task_key
all--test--4a8e08f7-525d-517f-93c1-7dd2b5dc7dc6
task_revision_id
1
config / split
all / test

Official source

initial import