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On January 1, 2019, Familia purchased 1,600 ordinary shares of another entity for P2,000,000.   During 2019, the investee paid a cash dividend of P130 per share. At December 31, 2019, the investee’s shares were selling for P1,400 per share. Familia irrevocably designated to classify equity investment at FVOCI. On October 1, 2020, Familia sold half of its shares at P1,800 per share. At December 31, 2020, the shares were selling at P1,900 per share. What amount is recognized in retained in retained earnings as a result of the disposal in 2020? __ The unrealized gain recognized in the statement of comprehensive income for the year end December 31 2020 is ____

On January 1, 2019, Familia purchased 1,600 ordinary shares of another entity for P2,000,000.   During 2019, the investee paid a cash dividend of P130 per share. At December 31, 2019, the investee’s shares were selling for P1,400 per share. Familia irrevocably designated to classify equity investment at FVOCI. On October 1, 2020, Familia sold half of its shares at P1,800 per share. At December 31, 2020, the shares were selling at P1,900 per share. What amount is recognized in retained in retained earnings as a result of the disposal in 2020? __ The unrealized gain recognized in the statement of comprehensive income for the year end December 31 2020 is ____

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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  1. On January 1, 2019, Familia purchased 1,600 ordinary shares of another entity for P2,000,000.

 

  • During 2019, the investee paid a cash dividend of P130 per share.
  • At December 31, 2019, the investee’s shares were selling for P1,400 per share.
  • Familia irrevocably designated to classify equity investment at FVOCI.
  • On October 1, 2020, Familia sold half of its shares at P1,800 per share.
  • At December 31, 2020, the shares were selling at P1,900 per share.

What amount is recognized in retained in retained earnings as a result of the disposal in 2020? __
The unrealized gain recognized in the statement of comprehensive income for the year end December 31 2020 is ____

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