Pompey Inc. carries the following marketable equity securities on its books at December 31, 2021 and 2022. All securities were purchased during 2021. Trading Securities: Fair value 12/31/21 P 260,000 Fair value 12/31/22 P 400,000 Cost AAA Company P 500,000 ввB Сompany ccc Company 260,000 400,000 400,000 500,000 P1,300,000 700.000 600.000 Total P1.460,000 P1,260.000 Financial Assets at Fair value through OCI Cost Fair value 12/31/21 P3,600,000 Fair value 12/31/22 DDD Company EEE Company P4,100,000 P3,600,000 1.000,000 1.200.000 1.400.000 Total P5.100.000 P4.800.000 P5.000.000
Pompey Inc. carries the following marketable equity securities on its books at December 31, 2021 and 2022. All securities were purchased during 2021. Trading Securities: Fair value 12/31/21 P 260,000 Fair value 12/31/22 P 400,000 Cost AAA Company P 500,000 ввB Сompany ccc Company 260,000 400,000 400,000 500,000 P1,300,000 700.000 600.000 Total P1.460,000 P1,260.000 Financial Assets at Fair value through OCI Cost Fair value 12/31/21 P3,600,000 Fair value 12/31/22 DDD Company EEE Company P4,100,000 P3,600,000 1.000,000 1.200.000 1.400.000 Total P5.100.000 P4.800.000 P5.000.000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The net amount to be recognized in 2021 comprehensive income is
500,000 unrealized loss
200,000 unrealized loss
300,000 unrealized loss
100,000 unrealized loss
The net amount to be recognized in 2022 comprehensive income is
240,000 unrealized gain
260,000 unrealized loss
60,000 unrealized loss
200,000 unrealized gain
The net unrealized gain/loss at December 31, 2022 in accumulated other comprehensive income in shareholders' equity is
100,000 unrealized loss
200,000 unrealized gain
40,000 unrealized gain
260,000 unrealized loss
Transcribed Image Text:Pompey Inc. carries the following marketable equity securities on its books at December 31, 2021 and 2022. All securities
were purchased during 2021.
Trading Securities:
Fair value 12/31/21
P 260,000
Fair value 12/31/22
P 400,000
Cost
AAA Company
P 500,000
BBB Company
260,000
700,000
P1,460,000
400,000
400,000
CcC Company
Total
600.000
500.000
P1,260.000
P1,300,000
Financial Assets at Fair value through OCI
Cost
Fair value 12/31/21
Fair value 12/31/22
DDD Company
P4,100,000
P3,600,000
P3,600,000
1.400.000
P5,000,000
EEE Company
1.000.000
P5,100,000
1.200.000
Total
P4,800.000
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