Problem 4: On January 1, 2017, an entity purchases marketable equity securities for P2,000,000. The securities do not qualify as financial asset held for trading. The entity elected to present changes in fair value in other comprehensive income. On December 21, 2017, the securities have market value of P1,800,000. The changes in market value shall be recorded as?
Problem 4: On January 1, 2017, an entity purchases marketable equity securities for P2,000,000. The securities do not qualify as financial asset held for trading. The entity elected to present changes in fair value in other comprehensive income. On December 21, 2017, the securities have market value of P1,800,000. The changes in market value shall be recorded as?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...
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