On January 1, 2020, MNO Company acquired 250,000 ordinary shares of PQR Company at P45 per share.At the time of purchase, PQR Company had outstanding1,000,000 shares with a carrying amount of P30,000,000.The following information pertains to year 2020:Net income of CD Company3,100,500MNO Company received cash dividend from PQRCompany2.50 per ordinary share Market Value of PQR Company's shares35MNO Company has no significant influence and has elected irrevocably to measure the investment at fair value through other comprehensive income.How much is the unrealized gain/(loss) on financial asset-OCI at year-end?

Answered: On January 1, 2020, MNO Company…

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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On January 1, 2020, MNO Company acquired 250,000 ordinary shares of PQR Company at P45 per share.
At the time of purchase, PQR Company had outstanding
1,000,000 shares with a carrying amount of P30,000,000.

The following information pertains to year 2020:

Net income of CD Company	3,100,500
MNO Company received cash dividend from PQR Company	2.50 per ordinary share
Market Value of PQR Company's shares	35

MNO Company has no significant influence and has elected irrevocably to measure the
investment at fair value through other comprehensive income.
How much is the unrealized gain/(loss) on financial asset-OCI at year-end?

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