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Question 1 - Fourth company bought an FVPL investment on January 1, 2020 for a total cost P80,000. As of December 31, 2020, the fair value of the investment is P90,000. On January 1, 2021, the company decided to reclassify the investment at FVOCI and this was carried in the company's books at FVOCI classification for the entire year of 2021. The fair value of this investment is P95,000 as of December 31, 2021. How much is the unrealized gain/(loss) to be presented as changes in other comprehensive income for the year 2021?
Question 2 - On June 1, 2020, Five company declared cash dividends of P2 per share to all of shareholders of record as of June 30 and payable on July 31. With the anticipation of increase in market price arising from the dividend declaration, Fifth company bought 10,000 shares of Five company at P15 per share on June 2, 2020. This investment was sold on June 29 at P20 per share. How much is the gain/(loss) on sale of Fifth for the year 2020?
Determine the number of shares to be used for calculating Basic earnings per share shares and Diluted earnings per share shares.
Using the definition of the "asset" as stated in the Conceptual Framework, explain whether the restrictive covenant can be considered an asset to the business.
shields company has gathered the following data on a proposed investment project ignore income taxes.nbspnbspinvestment
reed company uses a standard costing system. manufacturing overhead is applied to products based upon machine hours
Prepare Rick's journal entry to record for the right-of-use asset and lease liability at January 1, 2018. Prepare the journal entries to record interest
Problem - Given the following information concerning a promissory note: Interest: $228 and Term: 120 Days. Determine the principal value of the note
Desdisqui Biscuits manufactures Biscuit A at a UVC of PHP 150.00 and Biscuit B at a UVC of PHP 250.00. How many packages must be sold by Desdisqui
fenwicke company organized and began operating a subsidiary in a foreign country on january 1 2015 by investing lcu
Entity A's inventories on December 31, What The correct amount of inventory write down to be reported in entity A's December 3120 X One Financial statements is
direct materials and direct labor variancesdulce company produces a popular candy bar called rico. thecandy is produced
Explain the steps that would be needed for your selected portfolio company to transition from GAAP to IFRS. What would the statements for your chosen company
The post-closing trial balance of Peter's Lawn Services as at 30 June 2021 is as follows: Prepare the cash at bank ledger account as at 31 July 2021
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