What net amount should be reported as component

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Reference no: EM132879351

PAT Company reported the following items for December 31, 2014:

  1. Actual return on its plan assets related to its postemployment benefits amounted to 320,000. The fair value of plan assets on such date is P4,000,000. The company use the discount rate of 5%.
  2. PAT Company held two classes of investment securities with the aggregated amount of 5,255,000 of which 2,000,000 is do not qualify for trading purposes. The market value of such securities on December 31, 2014 is 2,150,000.
  3. Land acquired few years ago had a cost of 500,000. The entity uses the revaluation model. The fair market value for this date is 850,000.
  4. Unrealized loss on future contract designated as cash flow hedge on December 31,2014 - 500,000
  5. Gain on translation of financial statements of a foreign operation - 150,000
  6. Loss from change in fair value attributable to credit risk of a financial liability designated at FVTPL - 200,000
  7. The inventory had a market decline of 500,000 on December 31,2014

Problem 1: In the statement of comprehensive income, what net amount should be reported as component of other comprehensive income that may not be recycled to profit or loss?

a. 350,000
b. 420,000
c. 620,000
d. 820,000

Problem 2: In the statement of comprehensive income, what net amount should be reported as component of other comprehensive income that may be recycled to profit or loss?

a. 350,000
b. 420,000
c. 620,000
d. 320,000

Problem 3: In the statement of comprehensive income, what net amount should be reported as component of other comprehensive income?

a. 350,000
b. 420,000
c. 620,000
d. 320,000

Reference no: EM132879351

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