An entity provided the following information for the current year: Income from continuing operations 4,000,000 Income from discontinued operation 500,000 Unrealized gain on financial asset – FVPL 800,000 Unrealized loss on equity investment – FVOCI 1,000,000 Unrealized gain on debt investment – FVOCI 1,200,000 Unrealized gain on futures contract designated as a cash flow hedge 400,000 Translation loss on foreign operation 200,000 Net “remeasurement” gain on defined benefit plan during the year 600,000 Loss on credit risk of a financial liability designated at FVPL 300,000 Revaluation surplus during the year 2,500,000 Question 1: What net amount should be reported as other comprehensive income for the current year? a. 4,000,000 c. 3,200,000 b. 3,500,000 d. 7,000,000 Question 2: What amount should be reported as comprehensive income for the current year? a. 5,200,000 c. 8,500,000 b. 7,700,000 d. 7,200,000
An entity provided the following information for the current year:
Income from continuing operations 4,000,000
Income from discontinued operation 500,000
Unrealized gain on financial asset – FVPL 800,000
Unrealized loss on equity investment – FVOCI 1,000,000
Unrealized gain on debt investment – FVOCI 1,200,000
Unrealized gain on futures contract designated as a
Translation loss on foreign operation 200,000
Net “remeasurement” gain on defined benefit plan during the year 600,000
Loss on credit risk of a financial liability designated at FVPL 300,000
Revaluation surplus during the year 2,500,000
Question 1: What net amount should be reported as other comprehensive income for the current year?
a. 4,000,000 c. 3,200,000
b. 3,500,000 d. 7,000,000
Question 2: What amount should be reported as comprehensive income for the current year?
a. 5,200,000 c. 8,500,000
b. 7,700,000 d. 7,200,000
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