Paul Company presented the following information pertaining to its investments in equity securities.                                                   FVPL                              FVOCI Cost                                     P1,000,000                         P1,000,000 Market value   December 31, 2020              1,050,000                            980,000   December 31, 2019                 950,000                            920,000 1. What amount should Paul Company report as unrealized gain on its 2020 profit or loss?   a. P160,000 b. P110,000 c. P100,000 d. P 50,000

Intermediate Accounting: Reporting And Analysis
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ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
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Paul Company presented the following information pertaining to its investments in equity securities.
                                                  FVPL                              FVOCI
Cost                                     P1,000,000                         P1,000,000
Market value
  December 31, 2020              1,050,000                            980,000
  December 31, 2019                 950,000                            920,000

1. What amount should Paul Company report as unrealized gain on its 2020 profit or loss?
 
a. P160,000
b. P110,000
c. P100,000
d. P 50,000
 
2.What amount should Paul report as unrealized gains/losses in the shareholders' equity of its December 31, 2020 statement of financial position?
 
a. P60,000 credit
b. P20,000 debit
c. P80,000 debit
d. P20,000 credit
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Paul Company presented the following information pertaining to its investments in equity securities.
                                                  FVPL                              FVOCI
Cost                                     P1,000,000                         P1,000,000
Market value
  December 31, 2020              1,050,000                            980,000
  December 31, 2019                 950,000                            920,000

2.What amount should Paul report as unrealized gains/losses in the shareholders' equity of its December 31, 2020 statement of financial position?

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