23 Karen Co. purchased the following equity securities on January 1, 20x1 for a total amount of P360,000.CostAbska Ca. preference sharesP200,000Valdez Co. ordinary shares160,000TotalsP360,000The shares did not quality for recognition as held for trading, thus they were classified as investment in equity securities measured at fair value through other comprehensive income.On December 31. 20x1, the portfolio of Karen Co. comprised the followingFair vakue - 12/311Alaska Co. preference sharesP240.000Valde: Co. ordinary shares0.000TotalP300.000On December 31, 20x2, the portfolio of Karen Co. comprised the followingFair value - 12/12Alaska Co. preference sharesP220.000Valdez Co. ordinary shares180.000TetalPA00.000transaction costs.On February 2 20x3, all of the Alaska Co. preference shares were sold for P160,000 net ofHow much is tve unrealzed gain (lass) recognized in other comprahensive income on December 31, 20x1?

As per IFRS If investment in equity shares other than those held for trading is measured at Fair…

Karen Co. purchased the following equity securities on January 1, 20x1 for a total amount of P360.000. Cost Abska Ca. preference shares P200.000 Valdez Co. ordinary shares 160.000 Totals P360,000 The shares did not quality for recognition as held for trading. thus they were classified as investment in equity securities measured at fair value through other comprehereive income On December 31. 20w1, the portfolio of Karen Co. comprised the following Fair volur - 12/311 Alaska Co. preference shares P240000 Valde: Co. ordinary shares 0.000 Total P300 000 On December 31, 202, the portfolio of Karen Co. comprised the following Fair value - 12/012 Alaska Co. preference shares P220.000 Vaidez Co. ordinary shares 180.000 Tetal On February 2, 20A. alt of the Alaska Co. preference shares were soid for P160,000 net of transaction costs How uch is the unrealaed gain lloss recognized in other comprehensive intome on December 31, 20x1?

Karen Co. purchased the following equity securities on January 1, 20x1 for a total amount of P360.000. Cost Abska Ca. preference shares P200.000 Valdez Co. ordinary shares 160.000 Totals P360,000 The shares did not quality for recognition as held for trading. thus they were classified as investment in equity securities measured at fair value through other comprehereive income On December 31. 20w1, the portfolio of Karen Co. comprised the following Fair volur - 12/311 Alaska Co. preference shares P240000 Valde: Co. ordinary shares 0.000 Total P300 000 On December 31, 202, the portfolio of Karen Co. comprised the following Fair value - 12/012 Alaska Co. preference shares P220.000 Vaidez Co. ordinary shares 180.000 Tetal On February 2, 20A. alt of the Alaska Co. preference shares were soid for P160,000 net of transaction costs How uch is the unrealaed gain lloss recognized in other comprehensive intome on December 31, 20x1?

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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