Sales revenue- P500,000 · Cost of Goods Sold- P350,000 · Operating Expenses- P55,000 · Unrealized translation gain- P20,000 · Cash dividends received on investment in equity securities- P2,000 Ignore income tax, for 2021, Lala Company would report total comprehensive income before tax of? A. 117,000
Sales revenue- P500,000 · Cost of Goods Sold- P350,000 · Operating Expenses- P55,000 · Unrealized translation gain- P20,000 · Cash dividends received on investment in equity securities- P2,000 Ignore income tax, for 2021, Lala Company would report total comprehensive income before tax of? A. 117,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...
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Question
Lala Company reported the following information in 2021:
· Sales revenue- P500,000
· Cost of Goods Sold- P350,000
· Operating Expenses- P55,000
· Unrealized translation gain- P20,000
· Cash dividends received on investment in equity securities- P2,000
Ignore income tax, for 2021, Lala Company would report total comprehensive income before tax of?
A. 117,000
B. 20,000
C. 97,000
D. 115,000
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