A Company Has a Foreign-Currency Transaction Gain of $1,000 and a Foreign-Currency

Multiple Choice

A company has a Foreign-Currency Transaction Gain of $1,000 and a Foreign-Currency Transaction Loss of $10,000.How is this information reported on the income statement?

A) Other Losses: Foreign-Currency Transaction Loss $10,000 and Other Gains: Foreign-Currency Transaction Gain $1,000
B) Other Losses: Foreign-Currency Transaction Loss,net $9,000
C) Other Comprehensive Loss: Foreign-Currency Transaction Loss $10,000 and Other Comprehensive Income: Foreign-Currency Transaction Gain $1,000
D) Other Comprehensive Loss: Foreign-Currency Transaction Loss,net $9,000