6. The adjusted trial balance of Lotus Company included the following accounts on December 31, 2020: Sales 9,750,000 150,000 Share of profit of Associate Other Income Decrease in inventory of finished goods Raw materials and consumables used 300,000 250,000 3,500,000 Employee benefit expense Translation gain on foreign operation Depreciation Impairment loss on property Finance Cost Other Expenses Income tax expense Unrealized gain on option contract designated as cash flow hedge 1,500,000 300,000 450,000 800,000 350,000 450,000 900,000 200,000 Required: Prepare a single statement of comprehensive income for the year ended December 31, 2020.

6. The adjusted trial balance of Lotus Company included the following accounts on December 31, 2020: Sales 9,750,000 150,000 Share of profit of Associate Other Income Decrease in inventory of finished goods Raw materials and consumables used 300,000 250,000 3,500,000 Employee benefit expense Translation gain on foreign operation Depreciation Impairment loss on property Finance Cost Other Expenses Income tax expense Unrealized gain on option contract designated as cash flow hedge 1,500,000 300,000 450,000 800,000 350,000 450,000 900,000 200,000 Required: Prepare a single statement of comprehensive income for the year ended December 31, 2020.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

6. The adjusted trial balance of Lotus Company included the following accounts on December
31, 2020:
Sales
9,750,000
150,000
Share of profit of Associate
Other Income
Decrease in inventory of finished goods
Raw materials and consumables used
300,000
250,000
3,500,000
Employee benefit expense
Translation gain on foreign operation
Depreciation
Impairment loss on property
Finance Cost
1,500,000
300,000
450,000
800,000
350,000
450,000
900,000
Other Expenses
Income tax expense
Unrealized gain on option contract designated
as cash flow hedge
200,000
Required: Prepare a single statement of comprehensive income for the year ended
December 31, 2020.

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