Question: 1 . A company reports using IFRS. It reports OCI of $ 2 0 , 0 0 0 composed of the following: A decrease in

1. A company reports using IFRS. It reports OCI of $20,000 composed of the following: A decrease in the unrealized holding loss on securities available for sale of $10,000, a translation gain of $12,000, and an increase in the revaluation surplus of $18,000.
a. In its disclosures, what amount will be reported for OCI that will subsequently be included in profit and loss (i.e. income statement)?
b. In its disclosures, what amount will be reported for OCI that will not subsequently be included in profit and loss?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

A company reports using IFRS. It reports OCI of $20,000 composed of the following: A decrease in the unrealized holding loss on securities available for sale of $10,000, a translation gain of...

Q:

A company reports using IFRS. It reports OCI of $20,000 composed of the following: A decrease in the unrealized holding loss on securities available for sale of $10,000, a translation gain of...

Q:

A company reports using IFRS. It reports OCI of $20,000 composed of the following: A decrease in the unrealized holding loss on securities available for sale of $10,000, a translation gain of...

Q:

A company reports using IFRS. It reports OCI of $20,000 composed of the following: A decrease in the unrealized holding loss on securities available for sale of $10,000, a translation gain of...

Q:

Hi, could you please help me solve this? Thank you so much. Chester, Inc. Trial Balances for years ending December 31, 2013, 2014, and 2015 Account Description Cash on Hand Regular Checking Account...

Q:

I have uploaded the problem in question. Thanks if you help! Read ALL instructions before getting started! ABC Corporation is a new company that buys and sells office supplies. Business began on...

Q:

I am needing someone to look over the "Adjusted Journal entries" I have made and make sure they are correct. My adjusted trial balance is off. I can not seem to find the problem. Read ALL...

Q:

I am needing someone to look over the "Adjusted Journal entries" I have made and make sure they are correct. My adjusted trial balance is off. I can not seem to find the problem. Read ALL...

Q:

I need help with my statement of cash flows, specifically, the cash paid to suppliers and employees section. I need the calculations so that this section of the statement of cash flows equals to be a...

Q:

Hello, I need help figuring out the adjusting entries on this case study, I have completed the general entries but am having a hard time with the adjusting. Attached are what I have done and the...

Q:

Dayton Publishers performs services on a job-cost basis. Most jobs take a week or less to complete. These typically involve at least two of Daytons five departments. Actual costs are accumulated by...

Q:

Suppose a system runs three types of transactions. Transactions of type A run at the rate of 50 per second, transactions of type B run at 100 per second, and transactions of type C run at 200 per...

Q:

Which of the following design elements can be used to create texture? Dot, shape, and line Dot, space, and form Dot, form, and value Dot, shape, and space

Q:

Discuss the policy statement concept and identify three focus areas / procedures where a clearpolicy statement / operating procedure

Q:

3 What are the relative advantages of facetoface communications (such as team briefings) and remote communications (such as intranets)?

Q:

4 How can employee involvement be achieved?

Q:

To what extent do you think companies should take care of the whole person rather than focusing only on employees welfare to the extent that this is necessary because of legislation? Presenteeism...