1) What net amount should be reported as OCI for the current year?

2) What amount should be reported as comprehensive income for the current year?

 

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Foxeye Company provided the following information for the current year: Income from continuing operations Income from discontinued operations Unrealized gain on financial asset - FVPL Unrealized loss on equity investment - FVOCI Unrealized gain on debt investment - FVOCI Unrealized gain on futures contract designated as a cash flow hedge Translation loss on foreign operation Net "remeasurement" gain on defined benefit plan Loss on credit risk of a financial liability at FVPL Revaluation surplus during the year 4,000,000 500,000 800,000 1,000,000 1,200,000 400,000 200,000 600,000 300,000 2,500,000 Foxeye Company provided the following information for the current year: Income from continuing operations Income from discontinued operations Unrealized gain on financial asset - FVPL Unrealized loss on equity investment - FVOCI Unrealized gain on debt investment - FVOCI Unrealized gain on futures contract designated as a cash flow hedge Translation loss on foreign operation Net "remeasurement" gain on defined benefit plan Loss on credit risk of a financial liability at FVPL Revaluation surplus during the year 4,000,000 500,000 800,000 1,000,000 1,200,000 400,000 200,000 600,000 300,000 2,500,000

Answer rating: 100% (QA)

1 To determine the net amount reported as Other Comprehensive Income OCI for the current year we nee... View the full answer