Inspiration Company had trading and nontrading investments held throughout 2021 and 2022. The nontrading investments are measured at fair value through other comprehensive income. The investments had a cost of P3,000,000 for trading, and P3,000,000 for nontrading. The investments had the following fair value at year end. 12/31/21 12/31/22 Trading Nontrading 4,000,000 3,200,000 3,800,000 3,700,000 What amount of cumulative unrealized gain or loss will be reported in the statement of changes in equity on December 31, 2022?

Inspiration Company had trading and nontrading investments held throughout 2021 and 2022. The nontrading investments are measured at fair value through other comprehensive income. The investments had a cost of P3,000,000 for trading, and P3,000,000 for nontrading. The investments had the following fair value at year end. 12/31/21 12/31/22 Trading Nontrading 4,000,000 3,200,000 3,800,000 3,700,000 What amount of cumulative unrealized gain or loss will be reported in the statement of changes in equity on December 31, 2022?

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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