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What is the amount of the reclassification adjustment

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Reference no: EM132811894

Problem 1: A company buys ten shares of securties at P2,000 each on January 15, year 1. The securties are classified as available-for-sale. The fair value of the securities increases to P2,500 per shareas of December 31, 20x2 and to P2,750 on December 31, 20x3. Assume no dividends are paid and that the company has a 30% tax rate. What is the amount of the reclassification adjustment for other comprehensive income on December 31, 20x3?

a. 0
b. (7,500)
c. 5,250
d. (5,250)

Reference no: EM132811894

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