Financial and Managerial Accounting (Looseleaf) (Custom Package)
6th Edition
ISBN: 9781259754883
Author: Wild
Publisher: MCG
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Chapter C, Problem 18QS
International accounting for investments P1
The Carrefour Group reported the following description of its trading securities.
| These are financial assets held by the Group in order to make a short-term profit on the sale. These assets are valued at their fair value with variations in value recognized in the income statement. |
In a record year, Carrefour’s financial statements reported €7 million in unrealized gains and €26 million in unrealized losses, both included in the fair value of those financial assets held for trading. What amount of these unrealized gains and unrealized losses, if any, is reported in its income statement? Explain.
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Problem No. 5
DAP Company started operation on January 1, 2018 and acquired the following securities:
Trading Securities Portfolio
Abad Company
Aquino Company
Lacierda Company
Fair value
P2,400,000
2,600,000
1,900,000
Fair value
FVTOCI Portfolio
Coloma Company
Soliman Company
Villanueva Company
P3,050,000
2,725,000
1,875,000
No disposals were made during 2018. The fair values of the investment securities as of December 31,
2018 are as follows:
Trading Securities Portfolio
Abad Company
Aquino Company
Lacierda Company
Fair value
P2,380,000
2,600,000
1,870,000
Page |S/TOCI Portfolio
Coloma Company
Soliman Company
Villanueva Company
Fair value
P3,070,000
2,737,500
1,871,000
The following additional transactions happened in 2019:
On September 1, DAP Company sold its Aquino Company securities for P2,590,000.
On October 1, DAP Company exchanged it Soliman Company portfolio for a piece of land. The
carrying amount of the land was P1,937,500 an a zonal value of P2,777,500. At the time of…
Chapter C Solutions
Financial and Managerial Accounting (Looseleaf) (Custom Package)
Ch. C - Prob. 1MCQCh. C - Prob. 2MCQCh. C - Prob. 3MCQCh. C - Prob. 4MCQCh. C - Prob. 5MCQCh. C - Prob. 1DQCh. C - Prob. 2DQCh. C - Prob. 3DQCh. C - Prob. 4DQCh. C - Prob. 5DQ
Ch. C - Prob. 6DQCh. C - Prob. 7DQCh. C - Prob. 8DQCh. C - Prob. 9DQCh. C - Prob. 10DQCh. C - Prob. 11DQCh. C - Prob. 12DQCh. C - Prob. 13DQCh. C - Prob. 14DQCh. C - Prob. 15DQCh. C - Prob. 16DQCh. C - Prob. 17DQCh. C - Prob. 1QSCh. C - Prob. 2QSCh. C - Prob. 3QSCh. C - Prob. 4QSCh. C - Prob. 5QSCh. C - Prob. 6QSCh. C - Prob. 7QSCh. C - Prob. 8QSCh. C - Prob. 9QSCh. C - Prob. 10QSCh. C - Prob. 11QSCh. C - Prob. 12QSCh. C - Prob. 13QSCh. C - Prob. 14QSCh. C - Prob. 15QSCh. C - Prob. 16QSCh. C - Prob. 17QSCh. C - International accounting for investments P1 The...Ch. C - Prob. 1ECh. C - Prob. 2ECh. C - Prob. 3ECh. C - Prob. 4ECh. C - Prob. 5ECh. C - Prob. 6ECh. C - Prob. 7ECh. C - Prob. 8ECh. C - Prob. 9ECh. C - Prob. 10ECh. C - Prob. 11ECh. C - Prob. 12ECh. C - Prob. 13ECh. C - Prob. 14ECh. C - Prob. 15ECh. C - Prob. 16ECh. C - Prob. 17ECh. C - Prob. 1PSACh. C - Prob. 2PSACh. C - Prob. 3PSACh. C - Prob. 4PSACh. C - Prob. 5PSACh. C - Prob. 6PSACh. C - Prob. 1PSBCh. C - Prob. 2PSBCh. C - Prob. 3PSBCh. C - Prob. 4PSBCh. C - Prob. 5PSBCh. C - Prob. 6PSBCh. C - Prob. 1SPCh. C - Prob. 1GLPCh. C - Prob. 2GLPCh. C - Prob. 1BTNCh. C - Prob. 2BTNCh. C - Prob. 3BTNCh. C - Prob. 4BTNCh. C - Prob. 5BTNCh. C - Prob. 6BTNCh. C - Prob. 7BTNCh. C - Prob. 8BTNCh. C - Prob. 9BTN
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