Sham God Company provided the following information for the current year: Income from continuing operation Income from discontinued operation Unrealized gain on financial asset – FVPL Unrealized loss on equity investment - FVOCI Investment gain on debt investment - FVOCI Unrealized gain on future contract designated as a cashflow hedge Translation loss on foreign operation Net "remeasurement" gain on defined benefit plan during the year Loss on credit risk of financial liability at FVPL Revaluation surplus 4,000,000 500,000 800,000 1,000,000 1,200,000 400,000 200,000 600,000 300,000 2,500,000 What net amount should be reported as other comprehensive income for the current year? A. 4,000,000 В. 3,500,000 С. 3,200,000 D. 7,000,000 What amount should be reported as comprehensive income for the current year? A. 5,200,000 B. 7,700,000 C. 8,500,000 D. 7,200,000

Sham God Company provided the following information for the current year: Income from continuing operation Income from discontinued operation Unrealized gain on financial asset – FVPL Unrealized loss on equity investment - FVOCI Investment gain on debt investment - FVOCI Unrealized gain on future contract designated as a cashflow hedge Translation loss on foreign operation Net "remeasurement" gain on defined benefit plan during the year Loss on credit risk of financial liability at FVPL Revaluation surplus 4,000,000 500,000 800,000 1,000,000 1,200,000 400,000 200,000 600,000 300,000 2,500,000 What net amount should be reported as other comprehensive income for the current year? A. 4,000,000 В. 3,500,000 С. 3,200,000 D. 7,000,000 What amount should be reported as comprehensive income for the current year? A. 5,200,000 B. 7,700,000 C. 8,500,000 D. 7,200,000

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter6: Accounting Quality

Section: Chapter Questions

Problem 2IC

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