Homework Answers
1. Net income - (c) 53,00,000
2. OCI- (c) 32,00,000
3. Comprehensive income - (c) 8500,000
Working notes:
| Statement of Comprehensive income | |||
| Income from continuing operation | 40,00,000 | ||
| Income from discontinued operation | 5,00,000 | ||
| Unrealised gain on financial asset | 8,00,000 | ||
| Net profit for the period (1) | 53,00,000 | ||
| Other comprehensive income (2): | |||
| Unrealized loss on equity instrument | -10,00,000 | ||
| Unrealized gain on debt instrument | 12,00,000 | ||
| Unrealized gain on futures contract designated as cash flow hedge (Refer note 2) | 4,00,000 | ||
| Net measurement gain on defined benefit plan | 6,00,000 | ||
| Translation loss on foreign operation | -2,00,000 | ||
| Revaluation surplus during the year | 25,00,000 | ||
| Loss on credit risk of financial liability at FVPL (Refer note 1) | -3,00,000 | ||
| Total Other comprehensive income | 32,00,000 | ||
| Total comprehensive income (1+2) | 85,00,000 | ||
| Note 1 | In case of a particular liabilities designated as at fair value through profit or loss, | ||
|
the change in the fair value that is attributable to changes in the liability’s credit risk is recognised on Other Comprehensive income Note 2: As the question is silent on whether unrealised gain on cash flow hedge is on effective portion , it has been assumed as pertaining to gain on effective portion on hedging instrument and hence recognised in Other comprehensive income |
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please i want a detailed solution and a clear hand writing thank
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