The following information pertains to Junction Ltd Corporation: . Income from continuing operations: $1,263,000 • Loss from discontinued operations: $138,000 . Gain on sale from discontinued operations: $30,400 . Net foreign exchange gain (loss) on translation of foreign operation: $32,980 . Net gain (loss) relating to cash flow hedges: $10,070 . Actuarial losses on net defined-benefit plans: $24,100 . Revaluation gains: $13,600 Required: Prepare a partial continuous statement of comprehensive Income for Junction Ltd. Calculate the tax for each required component (include income tax as a separate item for the components to which they relate using a tax rate of 30%). Income from continuing operations Other comprehensive income: Items that will not be reclassified: JUNCTION LTD Statement of Comprehensive Income Year ended 31 December +
The following information pertains to Junction Ltd Corporation: . Income from continuing operations: $1,263,000 • Loss from discontinued operations: $138,000 . Gain on sale from discontinued operations: $30,400 . Net foreign exchange gain (loss) on translation of foreign operation: $32,980 . Net gain (loss) relating to cash flow hedges: $10,070 . Actuarial losses on net defined-benefit plans: $24,100 . Revaluation gains: $13,600 Required: Prepare a partial continuous statement of comprehensive Income for Junction Ltd. Calculate the tax for each required component (include income tax as a separate item for the components to which they relate using a tax rate of 30%). Income from continuing operations Other comprehensive income: Items that will not be reclassified: JUNCTION LTD Statement of Comprehensive Income Year ended 31 December +
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A-3
Transcribed Image Text:The following information pertains to Junction Ltd Corporation:
. Income from continuing operations: $1,263.000
• Loss from discontinued operations: $138,000
Gain on sale from discontinued operations: $30,400
.
. Net foreign exchange gain (loss) on translation of foreign operation: $32,980
.
Net gain (loss) relating to cash flow hedges: $10,070
Actuarial losses on net defined-benefit plans: $24,100
Revaluation gains: $13,600
.
.
Required:
Prepare a partial continuous statement of comprehensive Income for Junction Ltd. Calculate the tax for each required component
(include income tax as a separate item for the components to which they relate using a tax rate of 30%).
Income from continuing operations
Other comprehensive income:
Items that will not be reclassified
JUNCTION LTD
Statement of Comprehensive Income
Year ended 31 December
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