Net Income and Other Comprehensive Income
Not what you're looking for?
Big Brown Corporation's derivative investments had the following fair values at December 31, 20X6 and December 31, 20X7:
12/31/X6 12/31/X7
Speculative derivatives $280,000 $310,000
Derivatives used as fair value hedges $600,000 $745,000
Derivatives used as cash flow hedges $430,000 $510,000
The derivatives used as fair value hedges and cash flow hedges were both considered highly effective in 20X7.
What amount of gain from these derivative investments should Big Brown report in its 20X7 net income and other comprehensive income?
Purchase this Solution
Solution Summary
This solution solves for the amount of gain from derivative investments.
Purchase this Solution
Free BrainMass Quizzes
Balance Sheet
The Fundamental Classified Balance Sheet. What to know to make it easy.
Employee Orientation
Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.
IPOs
This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)
Lean your Process
This quiz will help you understand the basic concepts of Lean.
Writing Business Plans
This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.