Explain how each of the following is presented in a multiple-step income statement. Sale of marketable securities at a loss. Adjusting entry to create (or increase) the allowance for doubtful accounts. Entry to write off an uncollectable account against the allowance. Adjusting entry to increase the balance in the marketable securities account to a higher market value.

Presentation of a Multiple-step Income Statement

1. Sale of marketable securities at a loss.

In the non-operating section of the income statement

2. Adjusting entry to create (or increase) the allowance for doubtful accounts.

In the operating section of the income statement

3. Entry to write off an uncollectible account against the allowance.

In the operating section of the income statement

4. Adjusting entry to increase the balance in the marketable securities account to a higher market value.

In other comprehensive income section of the income statement

Explanation:

The sale of marketable securities at a loss gives rise to a realized loss.  This is recorded in the non-operating section of the income statement after the operating section.  Items 2 and 3 are recorded in the operating section of the income statement, as they relate to the entity's normal operations.  Item 4 refers to an unrealized gain.  This is recorded in the other comprehensive income section just as unrealized losses.  The other comprehensive income section shows the comprehensive income and expenses, which refer to changes in equity that originate from non-operating sources.

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