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What amount of unrealized loss or gain should be reported

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Problem - Arizona Company acquired a financial asset not held for trading during the last quarter of the year 2020 and measured it at fair value through other comprehensive income. An analysis of the investment in equity securities showed the following:

Security

Number of shares

Cost per share

Dec. 29, 2020 Fair Value

JFC

1,500,000

P226.20

 

DMCI

2,200,000

P9.10

 

ALI

3,000,000

P49.90

 

BDO

3,800,000

P137.40

 

Required -

a) Prepare one compound entry to record the purchase of the investment in equity securities.

b) What amount of unrealized loss or gain should be reported in Arizona Company's December 31, 2020 statement of other comprehensive income?

Reference no: EM132816999

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