Zeroooo Company had the following portfolio of equity investment at fair value thro comprehensive income at December 31, 2019: Purchase Fair Value at 12/31/2019 price 225,000 250,000 Joe ordinary shares Kram preference shares 133,000 140,000 Teph ordinary shares 180,000 178,000 On April 30, 2020, Zeroooo sold all the Joe shares at P54 per share. On July 31, 2020, 3,000 of Diode Corporation were acquired at P59, also classified at FV-OCI.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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What should be the cumulative balance of Unrealized Gains and Losses on Equity Investments at December 31, 2020?

Zeroooo Company had the following portfolio of equity investment at fair value through other
comprehensive income at December 31, 2019:
Purchase Fair Value at
price
12/31/2019
Joe ordinary shares
225,000
250,000
Kram preference shares
133,000
140,000
Teph ordinary shares
180,000
178,000
On April 30, 2020, Zeroooo sold all the Joe shares at P54 per share.
On July 31, 2020, 3,000 of Diode Corporation were acquired at P59, also classified at FV-OCI.
The December 31, 2020 fair values were: Kram, P135,000; Teph, 190,000; and Diode, P200,000
Transcribed Image Text:Zeroooo Company had the following portfolio of equity investment at fair value through other comprehensive income at December 31, 2019: Purchase Fair Value at price 12/31/2019 Joe ordinary shares 225,000 250,000 Kram preference shares 133,000 140,000 Teph ordinary shares 180,000 178,000 On April 30, 2020, Zeroooo sold all the Joe shares at P54 per share. On July 31, 2020, 3,000 of Diode Corporation were acquired at P59, also classified at FV-OCI. The December 31, 2020 fair values were: Kram, P135,000; Teph, 190,000; and Diode, P200,000
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the amounte reported in the 2019 other comprehensive income section of statement of comprehensive income?

the amounte reported in the 2020 other comprehensive income section of statement of comprehensive income?

amount transferred to retained earnings on april 30 2020?

Total Non current assets at december 31 2020

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Follow-up Question

1. Amount reported in 2019 OTHER COMPREHENSIVE INCOM section if Statement of comprehensive Income?

2. Amount reported in 2020 OTHER COMPREHENSIVE INCOM section if Statement of comprehensive Income?

3. how much gain or loss shall be recognized in profit or loss on the sale of Joe shares on april 30?

4. The amount transferred to retained  earnings on April 30?

5. TOtal Non current assetsc at Dec 31, 2020

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