On January 1, 2021, Familia purchased 1,600 ordinary shares of another entity for P2,000,000. At December 31, 2021, the investee’s shares were selling for P1,400 per share. Familia irrevocably designated to classify equity investment at FVOCI. On October 1, 2022, Familia sold half of its shares at P1,800 per share. At December 31, 2022, the shares were selling at P1,900 per share. The unrealized gain is recognized in the statement of comprehensive income for the year end December 31, 2022 is
On January 1, 2021, Familia purchased 1,600 ordinary shares of another entity for P2,000,000. At December 31, 2021, the investee’s shares were selling for P1,400 per share. Familia irrevocably designated to classify equity investment at FVOCI. On October 1, 2022, Familia sold half of its shares at P1,800 per share. At December 31, 2022, the shares were selling at P1,900 per share. The unrealized gain is recognized in the statement of comprehensive income for the year end December 31, 2022 is
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On January 1, 2021, Familia purchased 1,600 ordinary shares of another entity for P2,000,000. At December 31, 2021, the investee’s shares were selling for P1,400 per share. Familia irrevocably designated to classify equity investment at FVOCI. On October 1, 2022, Familia sold half of its shares at P1,800 per share. At December 31, 2022, the shares were selling at P1,900 per share.
The unrealized gain is recognized in the statement of comprehensive income for the year end December 31, 2022 is
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