Inspiration Company had trading and non-trading investment held throughout 2020 and 2021 The non- trading investments are measured at fair value through other comprehensive income. The investments had a cost for trading and P3,000,000 for non-trading. The investments had the following fair value at year- end: 12/31/20 12/31/21 4,000,000 3,800,000 Non-trading 3,200,000 3,700,000 Trading What amount of unrealized gain or loss should be reported in the income statement for 2021? aP200,000 loss b.P300,000 loss CP300,000 gain dP200,000 gain

Inspiration Company had trading and non-trading investment held throughout 2020 and 2021 The non- trading investments are measured at fair value through other comprehensive income. The investments had a cost for trading and P3,000,000 for non-trading. The investments had the following fair value at year- end: 12/31/20 12/31/21 4,000,000 3,800,000 Non-trading 3,200,000 3,700,000 Trading What amount of unrealized gain or loss should be reported in the income statement for 2021? aP200,000 loss b.P300,000 loss CP300,000 gain dP200,000 gain

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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