(Answered) Question - entity as draft statement of financial position

Accounting

Question - Entity A's draft Statement of Financial Position as at 31 Mar 2018 shows financial assets at fair value through profit or loss with a carrying amount of $12,500,000 as at 1 Apr 2017.

These financial assets are held in a fund whose value changes directly in proportion to a specified market index. At 1 Apr 2017 the relevant index was 1,200 and at 31 Mar 2018 it was 1,296.

What is the amount of gain or loss should be recognised at 31 Mar 2018 in respect of these assets.

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