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During 2022, Merry Co. purchased the following shares which it classified as FVPL investment:   Shares No. of Shares Cost per share at the time of purchase Fair value per share on December 31, 2022 A 1,000 P100

During 2022, Merry Co. purchased the following shares which it classified as FVPL investment:   Shares No. of Shares Cost per share at the time of purchase Fair value per share on December 31, 2022 A 1,000 P100

FINANCIAL ACCOUNTING
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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During 2022, Merry Co. purchased the following shares which it classified as FVPL investment:

 

Shares

No. of Shares

Cost per share at the time of purchase

Fair value per share on December 31, 2022

A

1,000

P100

P80

B

5,000

P20

P25

C

10,000

P4

P5

 

How much unrealized gain or loss will be recognized in the Profit or Loss Statement for these investments on December 31, 2022?

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