The adjusted trial balance of Liberty Company included the following accounts for the current year: Sales Cost of goods sold Share of profit of associate Gain on sale of equipment Administrative expenses Impairment loss on machinery Interest revenue Translation gain on foreign operation Distribution Costs Unrealized loss on debt investment measured at FVOCI Finance cost Loss on sale of trading securities Income tax Unrealized loss on forward contract designated as cash flow hedge P 9,750,000 3,500,000 150,000 80,000 250,000 21000 18,000 300,000 450,000 23,000 350,000 45,000 30% 200,000

The adjusted trial balance of Liberty Company included the following accounts for the current year: Sales Cost of goods sold Share of profit of associate Gain on sale of equipment Administrative expenses Impairment loss on machinery Interest revenue Translation gain on foreign operation Distribution Costs Unrealized loss on debt investment measured at FVOCI Finance cost Loss on sale of trading securities Income tax Unrealized loss on forward contract designated as cash flow hedge P 9,750,000 3,500,000 150,000 80,000 250,000 21000 18,000 300,000 450,000 23,000 350,000 45,000 30% 200,000

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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