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prehensive inc

prehensive inc

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. What amount of unrealized gain/loss should be shown as component of other comprehensive income in the 2021 statement of comprehensive income?

26,455
16,455
20,562
10,000
 
2. What amount of unrealized gain/loss should be shown as component of other comprehensive income in the 2022 statement of comprehensive income?
 
19,340
1,222
14,393
18,500
 
3.  What amount of unrealized gain/loss should be shown as component of other comprehensive income in the 2023 statement of comprehensive income?
 
8,358
26,500
10,982
9,792
 
4. What amount of unrealized gain/loss should be shown in the 2023 statement of changes in equity?
 
26,455
10,982
16,883
 25,233
 
 
Kristine Zairah holds debt securities within a business model whose objective is achieved both by collecting contractual cash flows and selling the debt securities. The contractual cash flows are solely payments of principal and interest on specified dates. The term of the P1,000,000, 7% bonds is 5 years, purchased on December 31, 2019, for P1,086,565. The bonds were purchased to yield 5% interest. The following schedule presents the fair value of the bonds at year-end. 1,065,000 1,075,000 1,056,500 1,030,000 1,000,000 December 31, 2020 December 31, 2021 December 31, 2022 December 31, 2023 December 31, 2024
Transcribed Image Text:Kristine Zairah holds debt securities within a business model whose objective is achieved both by collecting contractual cash flows and selling the debt securities. The contractual cash flows are solely payments of principal and interest on specified dates. The term of the P1,000,000, 7% bonds is 5 years, purchased on December 31, 2019, for P1,086,565. The bonds were purchased to yield 5% interest. The following schedule presents the fair value of the bonds at year-end. 1,065,000 1,075,000 1,056,500 1,030,000 1,000,000 December 31, 2020 December 31, 2021 December 31, 2022 December 31, 2023 December 31, 2024
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