Reference no: EM132959118
Question - During 2022, ABC Corp. acquired 500 shares of XYZ stock at P30 per share. ABC accounted for the stock as FVOCI financial assets. The market price per share of ABC's stock as of December 31, 2022 and 2023, is P22.50 and P39.50, respectively.
1. How much-unrealized gain or loss on long-term investments should ABC report on its December 31, 2022, statement of comprehensive income?
2. How much unrealized gain or loss on long-term investments should ABC report on its December 31, 2022, stockholders equity?
3. How much-unrealized gain or loss on long-term investments should ABC report on its December 31, 2023, statement of comprehensive income?
4. How much-unrealized gain or loss on long-term investments should ABC report on its December 31, 2023, stockholders equity?
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