During 2022, ABC Corp. acquired 500 shares of XYZ stock at P30 per share. ABC accounted for the stock as FVOCI financial assets. The market price per share of ABC's stock as of December 31, 2022 and 2023, is P22.50 and P39.50, respectively. 1. How much-unrealized gain or loss on long term investments should ABC report on its December 31, 2022, statement of comprehensive income? Use negative sign for the unrealized loss 2. How much unrealized gain or loss on long-term investments should ABC report on its December 31, 2022. stockholders equity? Use negative sign for the unrealized loss 3. How much-unrcalized gain or loss on long-term investments should ABC report on its December 31, 2023, statement of comprehensive income? Use negative sign for the unrealized los 4. How much-unrealized gain or loss on long-term investments should ABC report on its December 31, 2023, stockholders equity? Use negative sign for the unrealized loss

During 2022, ABC Corp. acquired 500 shares of XYZ stock at P30 per share. ABC accounted for the stock as FVOCI financial assets. The market price per share of ABC's stock as of December 31, 2022 and 2023, is P22.50 and P39.50, respectively. 1. How much-unrealized gain or loss on long term investments should ABC report on its December 31, 2022, statement of comprehensive income? Use negative sign for the unrealized loss 2. How much unrealized gain or loss on long-term investments should ABC report on its December 31, 2022. stockholders equity? Use negative sign for the unrealized loss 3. How much-unrcalized gain or loss on long-term investments should ABC report on its December 31, 2023, statement of comprehensive income? Use negative sign for the unrealized los 4. How much-unrealized gain or loss on long-term investments should ABC report on its December 31, 2023, stockholders equity? Use negative sign for the unrealized loss

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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