Reference no: EM132568141
The following information pertains to ABC's long-term marketable equity securities portfolio:
December 31, 2017 December 31, 2016
Cost P200,000 P200,000
Fair Value P240,000 P180,000
Question 1: Differences between cost and fair values are considered to be temporary. The decline in market value was properly accounted for at December 31, 2016. At December 31, 2017, what is the net realizable holding gain or loss to be reported as:
Option 1: OCI: P60,000 gain; Accumulated
OCI: P40,000 gain
Option 2: OCI: P20,000 loss; Accumulated
OCI: P20,000 loss
Option 3: OCI: P40,000 gain; Accumulated
OCI: P60,000 gain
Option 4: OCI: P0; Accumulated OCI: P0
Answer not given
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