Answered: On January 1, 2020, MNO Company… | bartleby

On January 1, 2020, MNO Company acquired 250,000 ordinary shares of PQR Company at P45 per share. At the time of purchase, PQR Company had outstanding 1,000,000 shares with a carrying amount of P30,000,000. The following information pertains to year 2020: Net income of CD Company 3,100,500 MNO Company received cash dividend from PQR Company 2.50 per ordinary share Market Value of PQR Company's shares 35 MNO Company has no significant influence and has elected irrevocably to measure the investment at fair value through other comprehensive income. How much is the unrealized gain/(loss) on financial asset-OCI at year-end?

Intermediate Accounting: Reporting And Analysis

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 14RE

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On January 1, 2020, MNO Company acquired 250,000 ordinary shares of PQR Company at P45 per share.
At the time of purchase, PQR Company had outstanding
1,000,000 shares with a carrying amount of P30,000,000.

The following information pertains to year 2020:

Net income of CD Company	3,100,500
MNO Company received cash dividend from PQR Company	2.50 per ordinary share
Market Value of PQR Company's shares	35

MNO Company has no significant influence and has elected irrevocably to measure the
investment at fair value through other comprehensive income.
How much is the unrealized gain/(loss) on financial asset-OCI at year-end?

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