In November, one of the processing departments at Goodsell Corporation had beginning work in process inventory of $36,000 and ended work in process inventory of $35,000. During the month, $427,000 of costs were added to production and the cost of units transferred out from the department was $428,000. The company uses the FIFO method in its process costing system. In the department's cost reconciliation report for November, the total cost to be accounted for would be a. $890,000 b. $71,000 c. $463,000 d. $926,000 The accountant for Indra Ltd (Indra) has determined the following information for the year ended 30 June 2020. Profit or loss Share of total comprehensive income (after tax) of associates P300,000 20,000 Share of profit (after tax) of associates 15,000 Exchange difference gain (net of tax of P3,000) on the translation of foreign operation up to the date sold (1 March 2020) 7,000 Exchange difference gain (net of tax of P9,000) on disposal of foreign operation recognized in profit for the year 21,000 Increase in asset revaluation surplus (net of tax) 45,000 What is the total amount of other comprehensive income for Indra for the year ended 30 June 2020? a. 51,000 b. 72,000 c. 36,000 d. 57,000

In November, one of the processing departments at Goodsell Corporation had beginning work in process inventory of $36,000 and ended work in process inventory of $35,000. During the month, $427,000 of costs were added to production and the cost of units transferred out from the department was $428,000. The company uses the FIFO method in its process costing system. In the department's cost reconciliation report for November, the total cost to be accounted for would be a. $890,000 b. $71,000 c. $463,000 d. $926,000 The accountant for Indra Ltd (Indra) has determined the following information for the year ended 30 June 2020. Profit or loss Share of total comprehensive income (after tax) of associates P300,000 20,000 Share of profit (after tax) of associates 15,000 Exchange difference gain (net of tax of P3,000) on the translation of foreign operation up to the date sold (1 March 2020) 7,000 Exchange difference gain (net of tax of P9,000) on disposal of foreign operation recognized in profit for the year 21,000 Increase in asset revaluation surplus (net of tax) 45,000 What is the total amount of other comprehensive income for Indra for the year ended 30 June 2020? a. 51,000 b. 72,000 c. 36,000 d. 57,000

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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