Security Ronneby Corp. Stockholm Corp. Cost P540,000 15,000 P525,000 2,100 157,500* 151,200 Avesta Corp. 1,200 180,000 176,000 *The P8,200 broker's fee was recorded as expense. 1. How much is the realized gain or loss on the sale of Djursholm Corp. ordinary shares on April 1, 2022? 2. The 2,100 ordinary shares of Stockholm Corp. purchased on May 1, 2022, should be initially measured at how much? 3. Sweden's December 31, 2022, statement of financial position should report financial assets at fair value through other comprehensive income at what amount? Shares Fair value

Security Ronneby Corp. Stockholm Corp. Cost P540,000 15,000 P525,000 2,100 157,500* 151,200 Avesta Corp. 1,200 180,000 176,000 *The P8,200 broker's fee was recorded as expense. 1. How much is the realized gain or loss on the sale of Djursholm Corp. ordinary shares on April 1, 2022? 2. The 2,100 ordinary shares of Stockholm Corp. purchased on May 1, 2022, should be initially measured at how much? 3. Sweden's December 31, 2022, statement of financial position should report financial assets at fair value through other comprehensive income at what amount? Shares Fair value

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA2: Investments

Section: Chapter Questions

Problem 23E

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