Solution-How much is the cumulative unrealized gain to be

How much is the cumulative unrealized gain to be

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Reference no: EM132785786

On January 1, 2020, Diligence Company purchased non-trading equity investments which are irrevocably designated at FVOCI:

Security	Purchase Price	Transaction Cost	Market Value 12/31/2020
A	1,600,000	160,000 80,000	1,880,000 960,000
B	800,000	160,000 80,000	1,880,000 960,000
C	400,000	40,000	600,000

On July 1, 2021, the entity sold security B for P1,200,000.
On December 31, 2021, the fair value of security A and security C is P2,100,000 and P620,000, respectively

Problem 1: How much is the cumulative unrealized gain / (loss) to be reported in the statement of changes in equity on December 31, 2021?

Reference no: EM132785786

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How much is the cumulative unrealized gain to be

Reference no: EM132785786

Reference no: EM132785786

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