. During the year 2019, Jack company acquired 11,000 ordinary shares of Jill Company for P231,000 plus broker's commission of P 5,000. The shares acquired by Jack are not intended for trading and Jack does not have the ability to exercise significant influence over the operating and financial policies of Jill. The market value of these shares for the last three years are as follows: December 31, 2019---------P235,000 December 31, 2020---------P241,000 December 31, 2021---------P222,000 How much unrealized loss on equity investment is recognized in profit or loss for the year 2021?
. During the year 2019, Jack company acquired 11,000 ordinary shares of Jill Company for P231,000 plus broker's commission of P 5,000. The shares acquired by Jack are not intended for trading and Jack does not have the ability to exercise significant influence over the operating and financial policies of Jill. The market value of these shares for the last three years are as follows: December 31, 2019---------P235,000 December 31, 2020---------P241,000 December 31, 2021---------P222,000 How much unrealized loss on equity investment is recognized in profit or loss for the year 2021?
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 17P
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Transcribed Image Text:7. During the year 2019, Jack company acquired 11,000 ordinary shares of Jill Company for
P231,000 plus broker's commission of P 5,000. The shares acquired by Jack are not intended for
trading and Jack does not have the ability to exercise significant influence over the operating and
financial policies of Jill. The market value of these shares for the last three years are as follows:
December 31, 2019---P235,000
December 31, 2020------
-----
--P241,000
December 31, 2021---------P222,000
How much unrealized loss on equity investment is recognized in profit or loss for the year 2021?
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