Q44. The following information pertains to Junction Ltd Corporation: Income from continuing operations: $1,273,000 Loss from discontinued operations: $140,000 Gain on sale from discontinued operations: $31,400 Net foreign exchange gain (loss) on translation of foreign operation: $33,380 Net gain (loss) relating to cash flow hedges: $10,270 Actuarial losses on net defined-benefit plans: $24,500 Revaluation gains: $14,000 Required: Prepare a partial continuous statement of comprehensive Income for Junction Ltd. Calculate the tax for each required component (include income tax as a separate item for the components to which they relate using a tax rate of 30%).
Q44. The following information pertains to Junction Ltd Corporation: Income from continuing operations: $1,273,000 Loss from discontinued operations: $140,000 Gain on sale from discontinued operations: $31,400 Net foreign exchange gain (loss) on translation of foreign operation: $33,380 Net gain (loss) relating to cash flow hedges: $10,270 Actuarial losses on net defined-benefit plans: $24,500 Revaluation gains: $14,000 Required: Prepare a partial continuous statement of comprehensive Income for Junction Ltd. Calculate the tax for each required component (include income tax as a separate item for the components to which they relate using a tax rate of 30%).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Q44.
The following information pertains to Junction Ltd Corporation:
- Income from continuing operations: $1,273,000
- Loss from discontinued operations: $140,000
- Gain on sale from discontinued operations: $31,400
- Net foreign exchange gain (loss) on translation of foreign operation: $33,380
- Net gain (loss) relating to
cash flow hedges: $10,270 - Actuarial losses on net defined-benefit plans: $24,500
- Revaluation gains: $14,000
Required:
Prepare a partial continuous statement of comprehensive Income for Junction Ltd. Calculate the tax for each required component (include income tax as a separate item for the components to which they relate using a tax rate of 30%).
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