On June 1, 2019, YODA CORP. acquired a 5-year, 10%, P1,000,000 face value bonds at 92. The company paid broker's fees and non-refundable taxes amounting to P118,896. As a result, yield rate on the bond was 9%. Interests are collectible annually every May 31. The bonds were selling at 120, 105, 98 as of December 31, 2019, December 31, 2020 and December 31, 2021; respectively. On September 30, 2021, YODA sold P250,000 face value bonds for a total cost of P280,000. Case 3: Answer the following questions assuming the company classifies the investment as financial asset at fair value through other comprehensive income: How much is the unrealized gain/loss that should be reported in OCI for the year 2019? O 157,313 164,895

On June 1, 2019, YODA CORP. acquired a 5-year, 10%, P1,000,000 face value bonds at 92. The company paid broker's fees and non-refundable taxes amounting to P118,896. As a result, yield rate on the bond was 9%. Interests are collectible annually every May 31. The bonds were selling at 120, 105, 98 as of December 31, 2019, December 31, 2020 and December 31, 2021; respectively. On September 30, 2021, YODA sold P250,000 face value bonds for a total cost of P280,000. Case 3: Answer the following questions assuming the company classifies the investment as financial asset at fair value through other comprehensive income: How much is the unrealized gain/loss that should be reported in OCI for the year 2019? O 157,313 164,895

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Which of the following items affect taxable income? Select one or more: a. Realized Gains and Losses b. Unrealized Gains and Losses c. Interest Income PreviousSave AnswersFinish attempt ...
Find the income tax expense 2019:
What formula is used to “gross-up” supplementalpayments in order to cover the taxes on the supplementalpayments?
What formula did you use to get the Depreciation, EBT, Taxes, and Net Income?
(a) What is the weighted average of accumulated expenditures? (b) What is the avoidable interest for the building in 2018?
What is the fair value of the plan assets at December 31?
What methods can be used to find the before-tax cost of debt? How is the before-tax cost of debt converted into the after-tax cost? Please answer ASAP and answer in text
How will a capital gain distribution from a REIT be reported on the income tax return if Schedule D is not required to be filed?