PBA Co. provided these data for 2020: Income from continuing operations Unrealized gain on financial asset at FVPL Unrealized gain on equity investment at FVOCI Unrealized loss on debt investment at FVOCI P4,000,000 800,000 1,000,000 1,200,000 Loss on credit risk of a financial liability at FVPL unrealized gain on futures contract designated as cash flow hedge 300,000 400,000 NET remeasurement gain on a defined benefit plan Translation loss on foreign operation Income from discontinued operations Revaluation surplus 600,000 200,000 500,000 2,500,000 How much should be reported as other comprehensive income for 2020?

PBA Co. provided these data for 2020: Income from continuing operations Unrealized gain on financial asset at FVPL Unrealized gain on equity investment at FVOCI Unrealized loss on debt investment at FVOCI P4,000,000 800,000 1,000,000 1,200,000 Loss on credit risk of a financial liability at FVPL unrealized gain on futures contract designated as cash flow hedge 300,000 400,000 NET remeasurement gain on a defined benefit plan Translation loss on foreign operation Income from discontinued operations Revaluation surplus 600,000 200,000 500,000 2,500,000 How much should be reported as other comprehensive income for 2020?

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

Chapter12: Valuation: Cash-flow Based Approaches

Section: Chapter Questions

Problem 2CIC

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MVP Co. provided these data for 2020: Income from continuing operations Unrealized gain on financial asset at FVPL Unrealized gain on equity investment at FVOCI Unrealized loss on debt investment at FVOCI Loss on credit risk of a financial liability at FVPL unrealized gain on futures contract designated as cash flow hedge NET remeasurement gain on a defined benefit plan Translation loss on foreign operation Income from discontinued operations Revaluation surplus P4,000,000 800,000 1,000,000 1,200,000 300,000 400,000 600,000 200,000 500,000 2,500,000 How much should be reported as comprehensive income for 2020?
SBP Co. provided these data for 2020: Income from continuing operations Unrealized gain on financial asset at FVPL Unrealized gain on equity investment at FVOCI Unrealized loss on debt investment at FVOCI Loss on credit risk of a financial liability at FVPL unrealized gain on futures contract designated as cash flow hedge NET remeasurement gain on a defined benefit plan Translation loss on foreign operation Income from discontinued operations Revaluation surplus P4,000,000 800,000 1,000,000 1,200,000 300,000 400,000 600,000 200,000 500,000 2,500,000 How much should be reported as net income for 2020?
Assuming the investment is appropriately recognized as a financial asset intended to collect contractual cash flows and also to sell the bonds in open market: How much interest income is to be recognized on December 31, 2020?
Financial liabilities that are classified as amortized cost are subsequently measured at A. Partly at profit or loss and partly at other comprehensive income depending on the risk. B. Fair value with changes in value recognized in other comprehensive income. (FVPL) C. Fair value which changes in value recognized in profit or loss. (held for trading) D. The present value of the remaining cash flows of the instrument discounted at the original effective interest rate.
The following data were taken from the statement of affairs of ROBINSONSCorp.:Assets pledged for fully secured liabilities (current fairvalue, P75,000)Assets pledged for partially secured liabilities (currentfair value P52,000)Free assets (current fair value, P40,000)Unsecured liabilities with priorityFully secured liabilitiesPartially secured liabilitiesUnsecured liabilities without priority P90,00074,00070,0007,00030,00060,000112,000 1. The amount that will be paid to creditors with priority is:a. P7,000 b. P6,000 c. P7,500 d. P6,2002. The amount to be paid fully secured creditors is:a. P30,000 b. P32,000 c. P20,000 d. P35,0003. The amount to be paid to partially secured creditors is:a. P52,700 b. P57,200 c. P56,200 d. P 57,0004. The amount to be paid to unsecured creditors:a. P78,200 b. P70,800 c. P72,000 d. P72,800
Required:a. Calculate the following ratios for Sweets plc for 2021 and 2020, showing the formulas and workings:4- Net profit margin5- Asset turnover6- Stock holding days7- Debtors collection period8- Current ratio9- Gearing ratio10- Interest cover
Which of the following is not an alternative for a capital charge for Operational Risk as stated in Basel II? a. Advanced Measurement Approach (AMA) b. Asset-Liability Matching c. Basic Indicator (15% of annual gross income) d. Standardized (different percentage for each business line)
Charges in the fair value of the effective portion of a hedging financial instrument are recognized as a part of current earnings of the period for which of the following? Cash Flow Hedge Far Value Hedge a b с d yes no yes no yes yes no no
14. Assuming the investment is appropriately recognized as a financial asset intended to collect contractual cash flows and also to sell the bonds in open market: Determine the initial valuation of the investment. 15. Assuming the investment is appropriately recognized as a financial asset intended to collect contractual cash flows and also to sell the bonds in open market: How much interest income is to be recognized on December 31, 2020? 16. Assuming the investment is appropriately recognized as a financial asset intended to collect contractual cash flows and also to sell the bonds in open market: How much is the interest receivable to be recognized on December 31, 2020?
Pasta Corporation acquired 75% of Sauce Company on January 1, 2020 for $566,250 cash. The fair value of the other 25% ownership interest is estimated to be $188,750. ADDITIONAL INFORMATION: On the date of acquisition: * The Book Value of Sauce Company's net identifiable assets was $652,000. * Sauce's Company's Plant Assets were undervalued by $75,000 (remaining life was estimated to be 5 years). * Sauce's Company's Inventories were overvalued by $9,000 (all sold by year end). * New Goodwill was determined to be $37,000. At year-end, it was determined that the New Goodwill was impaired by $5,800. * For 2020, Sauce reported net income of $146,500 and paid dividends of $26,000. Assume that Pasta Company uses the fully adjusted equity method to account for its Investment in Sauce.
What is the net adjustment to retained earnings on the disposal of Security A? What amount in OCI should be recognized in the statement of changes in equity on December 31,2020?
Calculate the 2019 debt ratio, liabilities-to-assets ratio, times-interest-earned ratio, and EBITDA coverage ratios. How does Computron compare with the industry with respect to financial leverage? What can you conclude from these ratios?