On January 1, 2022, Bumili Co, purchased 10,000 shares of Nabill, Inc. for P1,000,000 Commission and other charges paid amounted to P15,000 Management made an irrevocable choice to subsequently measure the shares at fair value through other comprehensive income. On December 31, 2022, the shares are quoted at P90 per share. On January 3, 2023, all of the shares were sold at P105 per share. Commission and other charges paid for the sale amounted to P16.000, How much is the unrealized gain (loss) recognized in Bumilis 2022 profit or loss? A. P115,000 B. (P115,000) C. (P85,000) D. 0
On January 1, 2022, Bumili Co, purchased 10,000 shares of Nabill, Inc. for P1,000,000 Commission and other charges paid amounted to P15,000 Management made an irrevocable choice to subsequently measure the shares at fair value through other comprehensive income. On December 31, 2022, the shares are quoted at P90 per share. On January 3, 2023, all of the shares were sold at P105 per share. Commission and other charges paid for the sale amounted to P16.000, How much is the unrealized gain (loss) recognized in Bumilis 2022 profit or loss? A. P115,000 B. (P115,000) C. (P85,000) D. 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On January 1, 2022, Bumili Co, purchased 10,000 shares of Nabill, Inc. for P1,000,000 Commission and other charges paid amounted to P15,000 Management made an irrevocable choice to subsequently measure the shares at fair value through other comprehensive income. On December 31, 2022, the shares are quoted at P90 per share. On January 3, 2023, all of the shares were sold at P105 per share. Commission and other charges paid for the sale amounted to P16.000, How much is the unrealized gain (loss) recognized in Bumilis 2022 profit or loss?
A. P115,000
B. (P115,000)
C. (P85,000)
D. 0
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