The accountant for ABC Ltd has determined the following information for the year ended 31 December 2020: Item Amount Profit or loss P500,000 Share of total comprehensive income (after tax) of associates 25,000 Share of profit (after tax) of associates 20,000 Exchange difference gain (net of tax of P2,000) on translation of 5,000 foreign operations up to the date sold Exchange difference gain (net of tax of P6,000) on disposal of foreign operation recognized in profit for the year 15,000 Increase in asset revaluation surplus (net of tax) 40,000 What is the total amount of other comprehensive income for ABC Ltd for the year ended 31 December 2020? a. 85,000 b. 95,000 c. 90,000 d. 100,000

The accountant for ABC Ltd has determined the following information for the year ended 31 December 2020: Item Amount Profit or loss P500,000 Share of total comprehensive income (after tax) of associates 25,000 Share of profit (after tax) of associates 20,000 Exchange difference gain (net of tax of P2,000) on translation of 5,000 foreign operations up to the date sold Exchange difference gain (net of tax of P6,000) on disposal of foreign operation recognized in profit for the year 15,000 Increase in asset revaluation surplus (net of tax) 40,000 What is the total amount of other comprehensive income for ABC Ltd for the year ended 31 December 2020? a. 85,000 b. 95,000 c. 90,000 d. 100,000

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 2RE: Refer to RE5-1. Prepare a single-step income statement for Brandt Corporation for the current year.

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