Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The records of ABC Co. on December 31, 20x1 showed the following information: Sales 2,050,000 Sales discounts 20,000 Cost of sales 800,000 Distribution costs 96,000
The records of ABC Co. on December 31, 20x1 showed the following information: Sales 2,050,000 Sales discounts 20,000 Cost of sales 800,000 Distribution costs 96,000 Administrative costs 240,000 Casualty loss on typhoon 40,000 Dividends received from investments in FVPL 24,000 Dividends received from investment in associate 48,000 Share in the profit of an associate 72,000 Dividends declared and paid 28,000 Interest expense 44,000 Unrealized gain on investments in FVPL 30,000 Unrealized gain on investments in FVOCI 38,000 Income tax expense 300,000 Loss on revaluation 26,000 Remeasurements of the net defined benefit liability (asset) - gain 22,000 Correction of understatement in depreciation in prior year 32,000 Translation adjustment of foreign operation - loss How much is the total comprehensive income for the year? a. 886,000 b. 586,000 c. 662,000 d. 612,000
The records of ABC Co. on December 31, 20x1 showed the following information:
Sales
2,050,000
Sales discounts
20,000
Cost of sales
800,000
Distribution costs
96,000
Administrative costs
240,000
Casualty loss on typhoon
40,000
Dividends received from investments in FVPL
24,000
Dividends received from investment in associate
48,000
Share in the profit of an associate
72,000
Dividends declared and paid
28,000
Interest expense
44,000
Unrealized gain on investments in FVPL
30,000
Unrealized gain on investments in FVOCI
38,000
Income tax expense
300,000
Loss on revaluation
26,000
Remeasurements of the net defined benefit liability (asset) - gain
22,000
Correction of understatement in depreciation in prior year
32,000
Translation adjustment of foreign operation - loss
How much is the total comprehensive income for the year?
a. 886,000
b. 586,000
c. 662,000
d. 612,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started