ct) in the fair value adjustment account in conformity with the valuation of investment to other comprehensive income. There was no change during 2020 in the composition of the portfolio of equity security Investments. Pertinent data on December 31, 2020 as follows: Securities Cost Market C PI,500,000 PI,625,000 P 1,250,000 1,300,000 A 2,250,000 2,350,000 Total P5,000,000 P5,275,000
ct) in the fair value adjustment account in conformity with the valuation of investment to other comprehensive income. There was no change during 2020 in the composition of the portfolio of equity security Investments. Pertinent data on December 31, 2020 as follows: Securities Cost Market C PI,500,000 PI,625,000 P 1,250,000 1,300,000 A 2,250,000 2,350,000 Total P5,000,000 P5,275,000
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 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...
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On January 1, 2020, Maya Company appropriately reported a credit balance of P125,000 (before income tax effect) in the fair value adjustment account in conformity with the valuation of investment to other comprehensive income. There was no change during 2020 in the composition of the portfolio of equity security Investments. Pertinent data on December 31, 2020 as follows:
Securities Cost Market
C PI,500,000 PI,625,000
P 1,250,000 1,300,000
A 2,250,000 2,350,000
Total P5,000,000 P5,275,000
What amount of unrealized gain or loss on these securities should the company report in its 2020 statement of comprehensive income, ignore income tax effect?
Securities Cost Market
C PI,500,000 PI,625,000
P 1,250,000 1,300,000
A 2,250,000 2,350,000
Total P5,000,000 P5,275,000
What amount of unrealized gain or loss on these securities should the company report in its 2020 statement of comprehensive income, ignore income tax effect?
a. none
b. 375,000
c. 400,000
d. 625,000
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