28. During 2013, K Company purchased marketable equity securities to be measured at fair value through other comprehensive income. On December 31, 2013, the balance in the unrealized loss on these securities was P200,000. There were no security transactions during 2014. Pertinent data on December 31, 2014 are as follows: Security Cost Market value 2,100,000 1,850,000 1,050,000 Security X Y Cost 2,100,000 1,850,000 1,050,000 JM Market value 1,600,000 900.000 In the statement of changes in equity for 2014, what amount should be included as cumulative 1,600,000 2,000,000 900,000 Y unrealized loss as component of other comprehensive income? а. 500,000 b. 300,000 c. 200,000 d. 0

28. During 2013, K Company purchased marketable equity securities to be measured at fair value through other comprehensive income. On December 31, 2013, the balance in the unrealized loss on these securities was P200,000. There were no security transactions during 2014. Pertinent data on December 31, 2014 are as follows: Security Cost Market value 2,100,000 1,850,000 1,050,000 Security X Y Cost 2,100,000 1,850,000 1,050,000 JM Market value 1,600,000 900.000 In the statement of changes in equity for 2014, what amount should be included as cumulative 1,600,000 2,000,000 900,000 Y unrealized loss as component of other comprehensive income? а. 500,000 b. 300,000 c. 200,000 d. 0

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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