6. The adjusted trial balance of Lotus Company included the following accounts on December 31, 2020: Sales 9,750,000 150,000 Share of profit of Associate Other Income Decrease in inventory of finished goods Raw materials and consumables used 300,000 250,000 3,500,000 Employee benefit expense Translation gain on foreign operation Depreciation Impairment loss on property Finance Cost Other Expenses Income tax expense Unrealized gain on option contract designated as cash flow hedge 1,500,000 300,000 450,000 800,000 350,000 450,000 900,000 200,000 Required: Prepare a single statement of comprehensive income for the year ended December 31, 2020.
6. The adjusted trial balance of Lotus Company included the following accounts on December 31, 2020: Sales 9,750,000 150,000 Share of profit of Associate Other Income Decrease in inventory of finished goods Raw materials and consumables used 300,000 250,000 3,500,000 Employee benefit expense Translation gain on foreign operation Depreciation Impairment loss on property Finance Cost Other Expenses Income tax expense Unrealized gain on option contract designated as cash flow hedge 1,500,000 300,000 450,000 800,000 350,000 450,000 900,000 200,000 Required: Prepare a single statement of comprehensive income for the year ended December 31, 2020.
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 8E: Cost of Goods Sold, Income Statement. and Statement of Comprehensive Income Gaskin Company derives...
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