Arizona Company acquired a financial asset not held for trading during the last quarter of the...

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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: Number of shares Cost per share Security JFC DMCI ALI BDO 1,500,000 2,200,000 3,000,000 3,800,000 P226.20 P9.10 P49.90 P137.40 Dec. 29, 2020 Fair Value (determine the closing prices at edge.pse.com.ph) 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? 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: Number of shares Cost per share Security JFC DMCI ALI BDO 1,500,000 2,200,000 3,000,000 3,800,000 P226.20 P9.10 P49.90 P137.40 Dec. 29, 2020 Fair Value (determine the closing prices at edge.pse.com.ph) 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?

Answer rating: 100% (QA)

a Record the purchase of the investment in equity securities Calculate the total cost of each security Total Cost of JFC 1500000 shares P22620 per sha... View the full answer