MVP Co. provided these data for 2020: Income from continuing operations Unrealized gain on financial asset at FVPL Unrealized gain on equity investment at FVOCI Unrealized loss on debt investment at FVOCI Loss on credit risk of a financial liability at FVPL unrealized gain on futures contract designated as cash flow hedge NET remeasurement gain on a defined benefit plan Translation loss on foreign operation Income from discontinued operations Revaluation surplus P4,000,000 800,000 1,000,000 1,200,000 300,000 400,000 600,000 200,000 500,000 2,500,000 How much should be reported as comprehensive income for 2020?
MVP Co. provided these data for 2020: Income from continuing operations Unrealized gain on financial asset at FVPL Unrealized gain on equity investment at FVOCI Unrealized loss on debt investment at FVOCI Loss on credit risk of a financial liability at FVPL unrealized gain on futures contract designated as cash flow hedge NET remeasurement gain on a defined benefit plan Translation loss on foreign operation Income from discontinued operations Revaluation surplus P4,000,000 800,000 1,000,000 1,200,000 300,000 400,000 600,000 200,000 500,000 2,500,000 How much should be reported as comprehensive income for 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
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...
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Topic Video
Question
A. P5,200,000
B. P7,200,000
C. P7,700,000
D. P8,500,000
E. answer not given
Transcribed Image Text:MVP Co. provided these data for 2020:
Income from continuing operations
Unrealized gain on financial asset at FVPL
Unrealized gain on equity investment at FVOCI
Unrealized loss on debt investment at FVOCI
Loss on credit risk of a financial liability at FVPL
unrealized gain on futures contract designated as
cash flow hedge
NET remeasurement gain on a defined benefit plan
Translation loss on foreign operation
Income from discontinued operations
Revaluation surplus
P4,000,000
800,000
1,000,000
1,200,000
300,000
400,000
600,000
200,000
500,000
2,500,000
How much should be reported as comprehensive income for
2020?
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