Question 19 Fourth company bought an FVPL investment on January 1, 2020 for a total cost P80,000. As of December 31, 2020, the fair value of the investment is P90,000. On January 1, 2021, the company decided to reclassify the investment at FVOCI and this was carried in the company's books at FVOCI classification for the entire year of 2021. The fair value of this investment is P95,000 as of December 31, 2021. How much is the unrealized gain/(loss) to be presented as changes in other comprehensive income for the year 2021? D Question 20 On June 1, 2020, Five company declared cash dividends of P2 per share to all of shareholders of record as of June 30 and payable on July 31. With the anticipation of increase in market price arising from the dividend declaration, Fifth company bought 10,000 shares of Five company at P15 per share on June 2, 2020. This investment was sold on June 29 at P20 per share. How much is the gain/(loss) on sale of Fifth for the year 2020?

Question 19 Fourth company bought an FVPL investment on January 1, 2020 for a total cost P80,000. As of December 31, 2020, the fair value of the investment is P90,000. On January 1, 2021, the company decided to reclassify the investment at FVOCI and this was carried in the company's books at FVOCI classification for the entire year of 2021. The fair value of this investment is P95,000 as of December 31, 2021. How much is the unrealized gain/(loss) to be presented as changes in other comprehensive income for the year 2021? D Question 20 On June 1, 2020, Five company declared cash dividends of P2 per share to all of shareholders of record as of June 30 and payable on July 31. With the anticipation of increase in market price arising from the dividend declaration, Fifth company bought 10,000 shares of Five company at P15 per share on June 2, 2020. This investment was sold on June 29 at P20 per share. How much is the gain/(loss) on sale of Fifth for the year 2020?

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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