On June 30, 2021, Peter, Inc. purchased the following shares at a total cost of P10,700,000 designated as FVPL investment:   Number of shares Total fair value Faye Corp. 100,000 1,400,000 Barto Corp. 200,000 3,700,000 Kesha Corp. 400,000 5,600,000 At the end of the year, the fair values of the shares are as follows: Faye Corp. P17 Barto Corp. 21 Kesha Co. 11 On June 30, 2022, Peter sold 75% of its holdings in Kesha at P13 per share. How much is the realized gain on sale on FVPL to be reported in net income during 2022?

Q: During 2022, Merry Co. purchased the following shares which it classified as FVPL investment:…

A: Ans. Shares should be valued at Fair value on 31st December 2022: To value the shares we will look…

Q: On December 31, 2020, GHI Corporation holds 50,000 shares of Harry Company with market value of…

A: Unrealized gain means the upsurge in the worth of an asset or security which is yet to sold for…

Q: On January 1, 2024, Cat Company purchased the following investments: 1) 20,000 shares (representing…

A: Realized Gain or loss refers to the actual amount of gain or loss that arises from the purchase or…

Q: Vaughn Joseph Inc. acquired 20% of the outstanding common stock of Theresa Carla Vista Inc. on…

A: A journal entry records a business transaction in the accounting system for an organization. Journal…

Q: On December 31, 2020, DEF, Inc. holds 100,000 shares of Devin Company with market value of…

A: Gain or loss is the amount of money gained or lost on investment. If the money invested give more…

Q: On June 30, 2021, ZAYN Co. acquired 75,000 of LIAM Co.'s 100,000 outstanding shares with par value…

A: Non-controlling interest refers to ownership of less than 50% of a company's stock which having less…

Q: Pharoah Company purchased 200 of the 1000 outstanding shares of Sheridan Company's common stock for…

A: The balance in equity investment refers to the value of an investment in a company's stock or…

Q: During the year 2021, David Company purchased 1,000 shares of Goliath Company ordinary shares at…

A:

Q: On June 1, 2022, Madison Corporation purchased 100,000 shares of Steller, Inc., common stock for…

A: When a company acquires another company by purchasing the majority of shares, in such case the…

Q: In 2021, Milka Company purchased an investment in equity securities. The related data of December…

A: Unrealized gain refers to the profit earned by an entity by an increase in the value of any asset or…

Q: During 2020, Strawberry Corporation purchased several equity securities, all of which are designated…

A:

Q: Fill in the blanks: Blackknight Corp. purchased the following held for trading investments during…

A: As per given information in the question: Cost of ABC Shares= P900000 Cost of DEF Shares= P1000000…

Q: On January 1, 2021, the fair values of CHAESOO Inc. net assets were as follows:

A: As per IFRS 13 any shares issued on account of acquisition of business and assests acquired should…

Q: On December 31, 2020, DEF, Inc. holds 100,000 shares of Devin Company with market value of…

A:

Q: On January 1, 2024, Cat Company purchased the following investments: 1) 20,000 shares (representing…

A: Introduction: If an investor company makes an investment between 20 to 50% in the investee company…

Q: On October 1, 2022, BFAR Corporation issued 20,000 shares of its P100 par ordinary shares to MJE…

A: When assets are acquired in exchange for shares, the assets are recorded at the fair value of the…

Q: On January 1, 2021, Tan Beda Company acquired 10% of the 100,000 outstanding voting shares of Taint…

A: A dividend is a payment made by a company to its shareholders, typically in the form of cash or…

Q: Prepare dated journal entries for the investment on acquiring the company's books from acquisition…

A: A financial instrument is first recorded at transaction price for FVTPL. Any transaction expenses…

Q: Sonic Enterprises Inc. has decided to purchase 100% of the voting shares of Jackson Inc. for…

A: Goodwill is arises when amount of total net assets acquired is lower than total of liabilities taken…

Q: What amount of unrealized gain should Sisig Corp. report in its December 31, 2020 Statement of…

A: Unrealized gain is the gain which has been earned by the company when the investment is measured at…

Q: On January 1st 2020, the Tesla Company purchased 400 of the 1000 shares of the Spaceship Enterprise…

A: Journal Entry The purpose of preparing the journal entry to enter the required transaction which are…

Q: During 2020, Strawberry Corporation purchased several equity securities, all of which are designated…

A: Here discuss about the purchase and sale of share investment which are made through the fair value…

Q: M.T. Glass, Inc. purchased the following investments on January 1, 2028: 1. 21,000 shares…

A: Introduction:If an investor company makes an investment between 20 to 50% in the investee company…

Q: The following transactions pertain to PARANGAWAMONA Corporation: • Purchased 15,000 shares of the…

A:

Q: During 2022, Merry Co. purchased the following shares which it classified as FVPL investment:…

A: Fair Value through Profit and Loss A/c: if a financial instrument is held as FVPL then it means it…

Q: Carla Vista Company purchased 200 of the 1000 outstanding shares of Metlock Company's common stock…

A: Equity Investment Equity Investment is the money that is invested in a company through buying of…

Q: On January 1, 2020, Sheffield Corporation purchased 37% of the common stock outstanding of Pharoah…

A: Sheffield Corporation purchased 37% of the Pharoah Corporation. So 37% of the net income of Pharoah…

Q: On July 1, 2021, Bird Inc, a private enterprise, acquired 1,250 shares of Duckltd. tot 375, 000.…

A: Introduction: Financial transactions are tracked using journal entries. You enter transaction…

Q: Choose the correct answer: Westlife Company acquired on July 1, 2020, 30,000 ordinary shares of…

A: Dividend income is paid by company to its shareholders. Dividend income is considered income for the…

Q: PROBLEM EAST Corporation purchased 50,000 out of the 200,000 ordinary shares of FAR Corporation on…

A:

Q: Novak Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31,…

A: Companies do invest in other companies. Sometimes these investment are less than 20% so it is just…

Q: On June 1, 2020, Ping Corp. purchased 10,000 of Pong's 50,000 outstanding shares at a price of P6.00…

A: Here we can see that ping corporation has purchased 10,000 shares out of 50,000 shares.  Therefore…

Q: he entity sold 10,000 shares of B on January 5, 2022 for P150 per share. The market price per share…

A: In this case stock valued at the end of each year at the fair value and the difference is transfer…

Q: the required year-end adjusting entry for this investment is:

A: The purchase cost of shares is $45000 whereas the fair value at the end of the year is $42160. Hence…

Q: standing common stock of Theresa Kulikowski Inc. on December 31, 2020. The purchase price was $…

A: Given : Purchase price was $ 1,245,600 for 51,900 shares. declared and paid an $ 0.85 per share…

Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.