STATEMENT OF

COMPREHENSIV
E INCOME
PAULENE MAE M GOJO CRUZ
 A Statement of
Comprehensive Income
consists of all revenues, gains,
and losses that cause that
equity account to change at the
end of the accounting period.
They are nominal or temporary accounts
because, at the end of the accounting
period, balances under these accounts
are transferred to the Capital Account,
thus having only temporary amounts
and resulting in zero balances at the
beginning of the following year.
The elements of Comprehensive
Income are as follows:
1. Heading is composed of the
company name, the SCI title, and
the date starts with for the period
ended (date).
 •2. Income is increases in
economic benefits during the
period in the form of inflows or
enhancement of assets or
decreases of liabilities that result
in increases in equity, other than
those relating to investments by
the business owners.
 •3. Expenses are decreases in
economic benefits during the
period in the form of outflows or
depletions of assets or increases
of liabilities that result in
decreases in equity, other than
those relating to distributions to
the business owners.
•4. Net Income (Net Loss) is
the result of operation. If the
income is greater than the
expenses, then the result is net
income while if the expenses
are greater than income, then
the result is net loss.
Under the nature of expense method,
expenses are presented according to
their nature (for example,
depreciation, purchase of materials,
transport costs, employee benefits and
advertising costs) and are not
reallocated among their functions
within the entity.
There are two (2) forms of Statement of
Comprehensive Income, namely:
1.Single-step form - to be used in service
concern or merchandising business under
“perpetual inventory system”.
2.Multiple-step form -1 to be used in
merchandising business under” periodic
inventory system”.
A SCI shows expenses by their nature is referred to as Single-
Step Approach
AYOS Company
Statement of Comprehensive Income
For the period ended December 31, 2019

Income Php5,000.00
Expenses (1,500.00)
Profit for the year Php3,500.00
Other Comprehensive Income 500.00

Total Net Income Php4,000.00

 ADRIAN TRANSPORT
STATEMENT OF COMPREHENSIVE INCOME
For the period January 31, 2020

Service Revenue Php50,000.00

Expenses

Salaries Expense Php15,000.00

Rent Expense 10,000.00
Utilities Expense 5,000.00 30,000.00

Net Income/(Net Loss) Php20,000.00

Add Other Comprehensive Income 4,000.00
Total Net Income Php24,000.00
==========
 FORMULA:

Income - Expenses +
Comprehensive Income =
Net Income or Net Loss
1. Service Income ???
Expenses (Php10,000.00)
Net Income/(Net Loss) Php25,000.00

2. Service Income Php35,000.00

Expenses (Php15,000.00)
Net Income/(Net Loss) Php20,000.00
Other Comprehensive Income Php5,000.00
Comprehensive Income ???
3 Service Income Php65,000

Expenses ???
Net Income/(Net Loss) Php18,000
Other Comprehensive 2,000
Income
Comprehensive Income Php20,000
4. Service Income Php58,000

Expenses (Php38,0000)
Net Income/(Net Loss) ???
Other Comprehensive Income Php10,000
Comprehensive Income Php30,000

5. Service Income Php80,000

Expenses (Php120,000)
Net Income/(Net Loss) ______________
Directions: Prepare a Statement of
Comprehensive Income for the following
independent transactions. Use your surname as
your company name.
1. Service Revenue Php95,000.00
2. Salaries Expense Php5,000.00
3. Transportation Expense Php15,000.00
4. Rent Expense Php20,000.00;
5. Utilities Expense Php3,000.00;
6.OtherComprehensive Income Php8,000.00
Prepare a Statement of Comprehensive
Income
1.Salaries Expense Php25,000.00;
2. Transportation Expense
Php1,000.00
3. Rent Expense Php10,000.00;
4. Utilities Expense Php5,000.00;
Prepare a Statement of Comprehensive Income

1. Service Revenue Php95,000.00;

2. Salaries Expense Php5,000.00;
3. Transportation Expense Php15,000.00;
4. Rent Expense Php20,000.00;
5. Utilities Expense Pph3,000.00;
6. Other Comprehensive Income is
Php8,000.00