On December 31, 2020, Fay Company appropriately recored a P100,000 unrealized loss. There was nochange during 2021 in the composition of the portfolio of the marketable equity securities held as financialasset at fair value through other comprehensive income.SecurityCostMarket Value 12/31/21A1,200,000 1,300,000B900,000500,0001,600,000 1,500,000What amount of loss on these securities should be include in the statement of comprehensive income forthe year ended December 31, 2021 as component of other comprehensive income?a.P100,000b.Nilc.P300,000d.P400,000

SOLUTION- GIVEN- Total cost of Available for sale securities at year end = 1,200,00 + 900,000 +…

On December 31, 2020, Fay Company appropriately recored a P100,000 unrealized loss. There was no change during 2021 in the composition of the portfolio of the marketable equity securities held as financial asset at fair value through other comprehensive income. Security Cost Market Value 12/31/21 1,200,000 1,300,000 A B 900,000 500,000 1,600,000 1,500,000 What amount of loss on these securities should be include in the statement of comprehensive income for the year ended December 31, 2021 as component of other comprehensive income? a.P100,000 b.Nil CP300,000

On December 31, 2020, Fay Company appropriately recored a P100,000 unrealized loss. There was no change during 2021 in the composition of the portfolio of the marketable equity securities held as financial asset at fair value through other comprehensive income. Security Cost Market Value 12/31/21 1,200,000 1,300,000 A B 900,000 500,000 1,600,000 1,500,000 What amount of loss on these securities should be include in the statement of comprehensive income for the year ended December 31, 2021 as component of other comprehensive income? a.P100,000 b.Nil CP300,000

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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