Accounting Information Might Be Separately Reported in Any of the Following

question 90

Essay

Accounting information might be separately reported in any of the following components of the income statement or statement of retained earnings and their supporting schedules and footnotes: a. income from continuing operations or supporting schedules
b. extraordinary gains or losses
c. disclosure
d. statement of retained earnings
e. results from discontinued operations

Several items of accounting information are listed below.
Required:
By placing the letters (a-e) in the space provided above, identify where the information would be most appropriately reported. If the information would not appear in any of the above components, place an (X) in the space. Items may be reported in more than one location.

---

Definitions:

Selling Price

The fee customers pay to acquire a product or service.

Special Order

A customer request for goods or services that are not part of a company's standard offerings, often requiring unique production or procurement efforts.

Variable Selling

denotes the costs that vary directly with the level of sales, such as commissions or shipping charges.

Administrative Costs

Expenses related to the general administration of a business, such as salaries of executive staff, office supplies, and utilities.