During the year 2019, Bright company acquired 10,000 ordinary shares of Bloom Company for P231,000 plus broker's commission of P 5,000. The shares acquired by Bright are intended for trading. The market value of these shares for the last three years are as follows: December 31, 2019---------P235,000 December 31, 2020---------P240,000 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, Bright company acquired 10,000 ordinary shares of Bloom Company for P231,000 plus broker's commission of P 5,000. The shares acquired by Bright are intended for trading. The market value of these shares for the last three years are as follows: December 31, 2019---------P235,000 December 31, 2020---------P240,000 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 1MC
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During the year 2019, Bright company acquired 10,000 ordinary shares of Bloom Company for P231,000 plus broker's commission of P 5,000. The shares acquired by Bright are intended for trading. The market value of these shares for the last three years are as follows:
December 31, 2019---------P235,000
December 31, 2020---------P240,000
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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