Question 7 2 pts Hyperloop Enterprises had the following events and transactions during 2020: ...
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Question 7 2 pts Hyperloop Enterprises had the following events and transactions during 2020: Depreciation for 2019 was overstated by P200.000. The inventory in December 31, 2018 was understated by P300,000. Unrealized losses on equity investments carried at fair value through other comprehensive income amounted to P200.000 while unrealized gains on debt investments carried at fair value through other comprehensive income amounted to P100.000, A settlement relating to a lawsuit amounted to P150.000. A division of the company was disposed at a loss of P250,000. Applicable income tax rate is 30% (1) What is the net effect of these transactions on 2020 net income after tax? (2) What is the net effect of these transactions on 2020 other comprehensive income before tax? (3) What is the net income from continuing operations for 2020 after tax? If your answer is a decrease or loss, use "0" or a negative sign. Previous
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