Jack's by the Tracks What Effect Will the Accumulated Other Comprehensive Income Have on JACK'S

question 109

Multiple Choice

Jack's by the Tracks. has the following partial balance sheet: JACK'S BY THE TRACKS.
Balance Sheet (partial)
$\begin{array}{lr}\text { Stockholders' equity: }\\\text { Common stock } & \$ 6,000,000 \\\text { Retained earnings } & 2,000,000 \\\text { Total paid-in capital and retained earnings } & 8,000,000 \\\text { Accumulated other comprehensive income } & 800,000 \\\text { Total stockholders' equity: } & \$ 8,800,000\end{array}$ What effect will the accumulated other comprehensive income have on comprehensive income?

• A)No effect on comprehensive income.
• B)Increase of $800,000 in comprehensive income.
• C)Increase of $8,800,000 in comprehensive income.
• D)Decrease of $800,000 in comprehensive income.

---

Definitions:

General Partnership

A business arrangement in which two or more individuals share the management, profits, and liabilities of the business.