Paul Company presented the following information pertaining to its investments in equity securities. FVPL FVOCI Cost P1,000,000 P1,000,000 Market value December 31, 2020 1,050,000 980,000 December 31, 2019 950,000 920,000 1. What amount should Paul Company report as unrealized gain on its 2020 profit or loss? a. P160,000 b. P110,000 c. P100,000 d. P 50,000
Paul Company presented the following information pertaining to its investments in equity securities. FVPL FVOCI Cost P1,000,000 P1,000,000 Market value December 31, 2020 1,050,000 980,000 December 31, 2019 950,000 920,000 1. What amount should Paul Company report as unrealized gain on its 2020 profit or loss? a. P160,000 b. P110,000 c. P100,000 d. P 50,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Paul Company presented the following information pertaining to its investments in equity securities.
FVPL FVOCI
Cost P1,000,000 P1,000,000
Market value
December 31, 2020 1,050,000 980,000
December 31, 2019 950,000 920,000
1. What amount should Paul Company report as unrealized gain on its 2020 profit or loss?
FVPL FVOCI
Cost P1,000,000 P1,000,000
Market value
December 31, 2020 1,050,000 980,000
December 31, 2019 950,000 920,000
1. What amount should Paul Company report as unrealized gain on its 2020 profit or loss?
a. P160,000
b. P110,000
c. P100,000
d. P 50,000
2.What amount should Paul report as unrealized gains/losses in the shareholders' equity of its December 31, 2020 statement of financial position ?
a. P60,000 credit
b. P20,000 debit
c. P80,000 debit
d. P20,000 credit
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Paul Company presented the following information pertaining to its investments in equity securities.
FVPL FVOCI
Cost P1,000,000 P1,000,000
Market value
December 31, 2020 1,050,000 980,000
December 31, 2019 950,000 920,000
2.What amount should Paul report as unrealized gains/losses in the shareholders' equity of its December 31, 2020 statement of financial position?
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