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Sham God Company provided the following information for the current year: Income from continuing operation Income from discontinued operation Unrealized gain on financial asset – FVPL Unrealized loss on equity investment - FVOCI Investment gain on debt investment - FVOCI Unrealized gain on future contract designated as a cashflow hedge Translation loss on foreign operation Net "remeasurement" gain on defined benefit plan during the year Loss on credit risk of financial liability at FVPL Revaluation surplus 4,000,000 500,000 800,000 1,000,000 1,200,000 400,000 200,000 600,000 300,000 2,500,000 What net amount should be reported as other comprehensive income for the current year? A. 4,000,000 В. 3,500,000 С. 3,200,000 D. 7,000,000 What amount should be reported as comprehensive income for the current year? A. 5,200,000 B. 7,700,000 C. 8,500,000 D. 7,200,000

Sham God Company provided the following information for the current year: Income from continuing operation Income from discontinued operation Unrealized gain on financial asset – FVPL Unrealized loss on equity investment - FVOCI Investment gain on debt investment - FVOCI Unrealized gain on future contract designated as a cashflow hedge Translation loss on foreign operation Net "remeasurement" gain on defined benefit plan during the year Loss on credit risk of financial liability at FVPL Revaluation surplus 4,000,000 500,000 800,000 1,000,000 1,200,000 400,000 200,000 600,000 300,000 2,500,000 What net amount should be reported as other comprehensive income for the current year? A. 4,000,000 В. 3,500,000 С. 3,200,000 D. 7,000,000 What amount should be reported as comprehensive income for the current year? A. 5,200,000 B. 7,700,000 C. 8,500,000 D. 7,200,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Sham God Company provided the following information for the current year: Income from continuing operation Income from discontinued operation Unrealized gain on financial asset – FVPL Unrealized loss on equity investment - FVOCI Investment gain on debt investment - FVOCI Unrealized gain on future contract designated as a cashflow hedge Translation loss on foreign operation Net "remeasurement" gain on defined benefit plan during the year Loss on credit risk of financial liability at FVPL Revaluation surplus 4,000,000 500,000 800,000 1,000,000 1,200,000 400,000 200,000 600,000 300,000 2,500,000 What net amount should be reported as other comprehensive income for the current year? A. 4,000,000 В. 3,500,000 С. 3,200,000 D. 7,000,000 What amount should be reported as comprehensive income for the current year? A. 5,200,000 B. 7,700,000 C. 8,500,000 D. 7,200,000
Transcribed Image Text:Sham God Company provided the following information for the current year: Income from continuing operation Income from discontinued operation Unrealized gain on financial asset – FVPL Unrealized loss on equity investment - FVOCI Investment gain on debt investment - FVOCI Unrealized gain on future contract designated as a cashflow hedge Translation loss on foreign operation Net "remeasurement" gain on defined benefit plan during the year Loss on credit risk of financial liability at FVPL Revaluation surplus 4,000,000 500,000 800,000 1,000,000 1,200,000 400,000 200,000 600,000 300,000 2,500,000 What net amount should be reported as other comprehensive income for the current year? A. 4,000,000 В. 3,500,000 С. 3,200,000 D. 7,000,000 What amount should be reported as comprehensive income for the current year? A. 5,200,000 B. 7,700,000 C. 8,500,000 D. 7,200,000
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