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What amount of unrealized gain or loss should graham company

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Problem 1. On October 1, 2010, Graham Company purchased a P2,000,000 face value 9% debt instruments for P1,860,000 and designated as investment to profit or loss. The debt instruments mature on January 1, 2011, and pay interest semi-annually on January 1 and July 1. On December 31, the fair market value of the instruments is P1, 960,000. On February 2, 2011, Graham Company sold the debt security for P1,970,000. What amount of unrealized gain or loss should Graham Company report in its December 31, 2010 profit or loss?

Reference no: EM132844195

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