During the year 2021, David Company purchased 1,000 shares of Goliath Company ordinary shares at P150 per share, plus transaction costs of P4,000. The shares acquired are designated as at fair value through other comprehensive income. At December 31, 2021, Goliath ordinary shares are selling at P180/share. On December 31, 2022, the equity securities have fair value of P200/share. How much unrealized holding gain should David report on December 31, 2022?
During the year 2021, David Company purchased 1,000 shares of Goliath Company ordinary shares at P150 per share, plus transaction costs of P4,000. The shares acquired are designated as at fair value through other comprehensive income. At December 31, 2021, Goliath ordinary shares are selling at P180/share. On December 31, 2022, the equity securities have fair value of P200/share. How much unrealized holding gain should David report on December 31, 2022?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:During the year 2021, David Company purchased 1,000 shares of Goliath Company ordinary
shares at P150 per share, plus transaction costs of P4,000. The shares acquired are designated as
at fair value through other comprehensive income. At December 31, 2021, Goliath ordinary
shares are selling at P180/share. On December 31, 2022, the equity securities have fair value of
P200/share.
How much unrealized holding gain should David report on December 31, 2022?
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