ry 1, 2020, the Pacita Corp equity securities for P2,000,000. ssion, taxes and other transacti Because the securities were rading, Pacita exercised its optior ue through other comprehens ad the following fair values at 1 espectively: P1,750,000 and P2,1
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- During 2021, Anthony Company purchased debt securities as a long-term investment and classified them as trading. All securities were purchased at par value. Pertinent data are as follows: The net holding gain or loss included in Anthonys income statement for the year should be: a. 0 b. 3,000 gain c. 9,000 loss d. 12,000 lossOn January 1, 2020, the Pacita Corporation purchased equity securities for P2,000,000. The company also paid commission, taxes and other transaction costs amounting to P50,000. Because the securities were acquired not for immediate trading, Pacita exercised its option to measure the change in fair value through other comprehensive income. The securities had the following market values at December 31, 2020 and 2021, respectively: P1,750,000 and P2,100,000. No securities were sold during 2020 and 2021. What amount of unrealized gain or loss should be reported in December 31, 2021 statement of financial position as a component of shareholders’ equity?On January 1, 2020, the Evergreen Corporation purchased marketable equity securities for P2,000,000. The company also paid commission, taxes and other transaction costs amounting to P50,000. Because the securities were acquired not for immediate trading, Evergreen exercise its option to take the change in fair values through other comprehensive income. The securities had the following fair values at December 31, 2020 and 2021, respectively; P1,750,000 and P2,100,000. No securities were sold during 2020 and 2021. What amount of unrealized gain or loss should be reported in the December 31, 2021 statement of financial position as a component of shareholder’s equity.
- On January 1, 2020, the Balading Corporation purchased marketable equity securities for P2,000,000. The company also paid commission, taxes and other transaction costs amounting to P50,000. Because the securities were acquired not for immediate trading, Balading exercised its option to take the change in fair value through other comprehensive income. The securities had the following fair values at December 31, 2020 and 2021, respectively: P1,750,000 and P2,100,000. No securities were sold during 2020 and 2021. What amount of unrealized gain or loss should be reported in the December 31, 2021 statement of financial position as a component of shareholders' equity? A P250,000 cumulative unrealized loss B) P200,000 cumulative unrealized loss P100,000 cumulative unrealized gain D P50,000 cumulative unrealized gainOn January 1, 2019, Pacita Corp. purchased marketable equity securities to be held for trading purposes for P2,000,000. The company also paid commission, taxes and other transaction costs amounting to P50,000. Because the securities were acquired not for immediate trading, Pacita exercise its option to take the change in fair value through other comprehensive income. The securities had the following fair values at December 31, 2019 and 2020 respectively: P1,750,000 and P2,100,000. No securities were sold during 2019 or 2020. What amount of unrealized gain or loss should be reported in the December 31, 2020 statement of financial position as a component of shareholders' equity? (A) P50,000 cumulative unrealized gain (B P200,000 cumulative unrealized gain P250,000 cumulative unrealized loss (D P100,000 cumulative unrealized gainOn January 1, 2020, the Soondubu Stew Corporation purchased equity securities to be held for trading purposes for P2,000,000. The company also paid commissions, taxes and other transaction costs amounting to P50,000. The securities had fair values at December 31, 2020 and 2021, respectively: P1,750,000 and P2,100,000. No securities were sold during 2020. What amount of unrealized gain (loss) should be reported in the 2020 profit or loss section of the statement of comprehensive income?Required to answer. Single choice. -P100,000 -P350,000 -(P250,000) -(P200,000)
- On January 1, 2021, an entity purchased marketable equity securities for P5,000,000. The equity securities qualify as a financial asset held for trading. The entity also paid P50,000 as commission to the broker. At year-end, the trading securities have a fair value of P6,000,000. The increase in fair value should be recorded with: a.A credit to Financial asset - FVPL, P1,000,000 b.A debit to Unrealized gain - OCI, P1,000,000 c.A debit to Financial asset - FVPL, P1,000,000 d.A debit to Unrealized gain - P/L, P1,000,000On January 1, 2020, the Gim Corporation purchased equity securities for P2,000,000. The company also paid commissions, taxes and other transaction costs amounting to P50,000. Because the securities were not acquired for immediate trading, Gim exercised the option to take the change in fair value through other comprehensive income. The securities had fair values at December 31, 2020 and 2021, respectively: P1,750,000 and P2,100,000. No securities were sold during 2020. What amount of unrealized gain (loss) should be reported in the 2020 statement of financial position? a. P250,000 cumulative unrealized loss b. P100,000 cumulative unrealized gain c. P200,000 cumulative unrealized loss d. P50,000 cumulative unrealized gainOn January 1, 2020, the Gim Corporation purchased equity securities for P2,000,000. The company also paid commissions, taxes and other transaction costs amounting to P50,000. Because the securities were not acquired for immediate trading, Gim exercised the option to take the change in fair value through other comprehensive income. The securities had fair values at December 31, 2020 and 2021, respectively: P1,750,000 and P2,100,000. No securities were sold during 2020. What amount of unrealized gain (loss) should be reported in the 2020 statement of financial position?Required to answer. Single choice.
- On January 1, 2020, the Deluxe Corporation purchased equity securities to be held for trading purposes for P2,000,000. The company also paid commission, taxes and other transaction costs amounting to P50,000. The securities had fair values at December 31, 2020 and 2021, respectively; P1,750,000 and P2,100,000. No securities were sold during 2021. What amount of unrealized gain or loss should be reported in the 2021 profit or loss section of the statement of comprehensive income?On January 1, 2021, the Oliswel Corporation purchased equity securities to be held for trading purposes for P2,000,000. The company also paid commission, taxes and other transaction costs amounting to P50,000. The securities had fair values at December 31, 2021 and 2022, respectively: P1,750,000 and P2,100,000. No securities were sold during 2022. What amount of unrealized gain or loss should be reported in the 2022 profit or loss section of the statement of comprehensive income? (A) P100,000 gain B P350,000 gain C) P200,000 loss (D P250,000 lossOn January 1, 2020, the Pacita Corporation purchased equity securities to be held for trading purposes for P2,000,000. The company also paid commission, taxes and other transaction costs amounting to P50,000. The securities had fair values at December 31, 2020 and 2021, respectively: P1,750,000 and P2,100,000. No securities were sold during 2021. What amount of unrealized gain or loss should be reported in the 2021 profit or loss section of the statement of comprehensive income? P200,000 loss P250,000 loss P350,000 gain P100,000 gain а. b. с. d.