Reference no: EM131293199
Matrix, Inc., reported a net gain of $69,000 on its foreign assets due to the weakening of the U.S. dollar in 2013. In the same year, the company disclosed unrealized gains of $1,598,000 on its available-for-sale securities and a $188,000 unrealized gain on its trading securities. The company also reported a $927,000 loss on the sale of some equipment.
Which of the following best describes the impact of these transactions on Matrix, Inc.’s accounts?
a. $1,855,000 increase to net income.
b. $1,667,000 increase to accumulated other comprehensive income.
c. $1,667,000 increase to net income.
d. $257,000 increase to accumulated other comprehensive income.
e. None of the above
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Best describes the impact of these transactions on matrix
: Matrix, Inc., reported a net gain of $69,000 on its foreign assets due to the weakening of the U.S. dollar in 2013. In the same year, the company disclosed unrealized gains of $1,598,000 on its available-for-sale securities and a $188,000 unrealized ..
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