The alphabetical list of items that may be relevant in the preparation of a statement of comprehensive income of TrueMatic Corporation is provided below: Actuarial gains on defined benefit pension plans recognized outside profit or loss Decrease in inventories of finished goods and work in progress Depreciation and amortization expense P1,333 107,900 17,000 43,000 10,667 Employee benefit expense Exchange differences gain on translating foreign operations Finance costs 18,000 Gains on property revaluation Income tax expense Income tax relating to components of other comprehensive income Loss for the year from discontinued operations Other expenses Other income 3,367 32,000 9,334 30,500 5,500 11,300 Raw material and consumables used 92,000 Revenue 355,000 Share of other comprehensive of associates (unrealized loss on available-for-sale securities) Share of profit of associates Unrealized gain on available-for-sale securities Unrealized loss on derivatives in an effective cash flow hedge Work performed by the entity and capitalized 700 30,100 26,667 4,000 15,000 REQUIRED: Determine the following- 1. The profit for the year 2. The other comprehensive income for the year 3. Total comprehensive income for the year

The alphabetical list of items that may be relevant in the preparation of a statement of comprehensive income of TrueMatic Corporation is provided below: Actuarial gains on defined benefit pension plans recognized outside profit or loss Decrease in inventories of finished goods and work in progress Depreciation and amortization expense P1,333 107,900 17,000 43,000 10,667 Employee benefit expense Exchange differences gain on translating foreign operations Finance costs 18,000 Gains on property revaluation Income tax expense Income tax relating to components of other comprehensive income Loss for the year from discontinued operations Other expenses Other income 3,367 32,000 9,334 30,500 5,500 11,300 Raw material and consumables used 92,000 Revenue 355,000 Share of other comprehensive of associates (unrealized loss on available-for-sale securities) Share of profit of associates Unrealized gain on available-for-sale securities Unrealized loss on derivatives in an effective cash flow hedge Work performed by the entity and capitalized 700 30,100 26,667 4,000 15,000 REQUIRED: Determine the following- 1. The profit for the year 2. The other comprehensive income for the year 3. Total comprehensive income for the year

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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Employee benefits
A-1