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OFIA had investments in equity securities costing P1,000,000 that were classifies as investment in fair value thru other comprehensive income. On june 30, 2021, SOFIA decided to reclassify the investment as investment in fair value thru profit and loss. the investments' fair value was P985,000 at december 31, 2020 and P950,000 at june 30, 2021, and P1,500,000 at december 31, 2021 What amount of loss/gain from investments should Sofia report in 2021 income statement? Using the information above, what is the audited net unrealized loss/gain on marketable equity securities in its 2021 statement of shareholders’ equity?

OFIA had investments in equity securities costing P1,000,000 that were classifies as investment in fair value thru other comprehensive income. On june 30, 2021, SOFIA decided to reclassify the investment as investment in fair value thru profit and loss. the investments' fair value was P985,000 at december 31, 2020 and P950,000 at june 30, 2021, and P1,500,000 at december 31, 2021 What amount of loss/gain from investments should Sofia report in 2021 income statement? Using the information above, what is the audited net unrealized loss/gain on marketable equity securities in its 2021 statement of shareholders’ equity?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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SOFIA had investments in equity securities costing P1,000,000 that were classifies as investment in fair value thru other comprehensive income. On june 30, 2021, SOFIA decided to reclassify the investment as investment in fair value thru profit and loss. the investments' fair value was P985,000 at december 31, 2020 and P950,000 at june 30, 2021, and P1,500,000 at december 31, 2021

What amount of loss/gain from investments should Sofia report in 2021 income statement?

Using the information above, what is the audited net unrealized loss/gain on marketable equity securities in its 2021 statement of shareholders’ equity?

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Using the information above, what is the audited net unrealized loss/gain on marketable equity securities in its 2021 statement of shareholders’ equity?

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