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?
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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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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