ASSUME THAT IT WAS RECLASSIFIED FROM FVOCI TO AMORTIZED COST. Pls answer NUMBERS 4 AND 5. Show solution 2 How much is the unrealized gain (loss) in 2015 to be recognized in theprofit or loss?a. Nilb. P(179,079)C. P200,000d. P(379,079)3. How much is the realized gain (loss) on sale in 2016 to be recognized in theprofit or loss?c. P(33,494)d. P(64,540)a.Nilb. P25,0004. How much is the interest income for 2016?a. P265,849b. P300,000C. P531,699d. P600,0005.How much is the gain (loss) on reclassification to be recognized in the profitor loss on January 1, 2017?а. Nilb. P(24,343)с. Р50,000d. P100,000 Reclassification of FAAC SecuritiesPROBLEM 15-7 Initial and Subsequent measurement, Derecognition andOn January 3, 2016, the ½ of the bonds were sold at 105.appropriately classified as financial asset at amortized cost.December 31. The bonds were acquired to yield 10%. The bonds are to beof P5,000,000 and stated interest of 12% per year payable annually onOn January 1, 2015, Robelyn Co. acquired a 5-year bonds with a total face valueJanuary 1, 2015, Robelyn Co. acquired a 5-ycar bonds with a total face valueon 0.000 and stated interest of 12% per year payable annually onpecember 31. The bondS were acquired to yield 10%. The bonds are to heapropriately classified as financial asset at amortized cost.On lanuary 3, 2016, the ½ of the bonds were sold at 105.On November 1, 2016, Robelyn Co. changed its business model. It wasdetermined that the remaining financial asset at amortized cost should bereclassified to held for trading securities on reclassification date. On December31. 2016, the bonds are quoted at 102.On lanuary 1, 2017, the bonds were quoted at 104.

“Since you have asked multiple sub-parts, we will solve the first three sub-parts for you. If you…

2 How much is the unrealized gain (loss) in 2015 to be recognized in the profit or loss? Nil c. P200,000 d. P(379,079) a. b. P(179,079) 3. How much is the realized gain (loss) on sale in 2016 to be recognized in the profit or loss? Nil b. P25,000 C. P(33,494) d. P(64,540) a. 4. How much is the interest income for 2016? a. P265,849 b. P300,000 c. P531,699 d. P600,000

2 How much is the unrealized gain (loss) in 2015 to be recognized in the profit or loss? Nil c. P200,000 d. P(379,079) a. b. P(179,079) 3. How much is the realized gain (loss) on sale in 2016 to be recognized in the profit or loss? Nil b. P25,000 C. P(33,494) d. P(64,540) a. 4. How much is the interest income for 2016? a. P265,849 b. P300,000 c. P531,699 d. P600,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

A cost that has previously been incurred and can not be recovered by choosing one alternative over another is a(n): allocated cost fixed cost opportunity cost sunk cost avoidable cost
The term (1 + i)" is called a factor and is known as the single-payment compound amount factor. Select one: O True O False
SITUATION2: Interpret the figure below: find (a) Present worth of all additional maintenance cost, (b) Present worth of all cost, (c) Equivalent uniform annual cost (EUAC). Note, EUAC is the sum of all expenses such as first cost, operation cost and other expenses. 0 12 3 4 5 6 7 8 9 10 11 12 Y ✓ 1.5 1.5 1.5 1.5 1,5 1.5 1.5 1.5 1.5.1,5 1.5 1.5 Initial cost: P20M Annual maintenance: P1.5M www 25 1,5 Additional Maintenance every 5 years: P3M Cost of money: 8.0%
Consider the following statements: (1) Total costs will equal the sum of fixed and variable costs. (2) Total costs will equal the sum of direct and indirect costs. Which of these statements is/are correct? A. 2 only OB. 1 only OC. Neither 1 nor 2 OD. 1 and 2
Which option does NOT form part of measurement bases in terms of IAS1? Select one: O a. Prime cost O b. Current cost O c. Historical cost O d. Present Value
Label each of the following statements as either true (“T”) or false (“F”). A sunk cost will change with a future course of action.
Give an example of when one would choose to use the Payback Period Method instead of the NPV / IRR method
What refers to the present worth of cost associated with an asset for an infinite period of time? Select one: a. payback period b. capitalized cost c. incremental cost d. operating cost
Answer full question
Relevant range is the activity that affects the increase or decrease of costs Select one: O True O False Previo m Jump to... Return to: General +
Q2) short answer: 1. What is variable cost and fixed cost? ___________________________________________________________________________________________________________________________________________________________________________________________________ ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 2. What is Break Even Point? ___________________________________________________________________________________________________________________________________________________________________________________________________…
Answer questions completely