1. At the beginning of the current year, AAA Company purchased marketable equity securities to be held as "trading" for P5,000,000. The entity also paid transaction cost amounting to P200,000. The securities had a market value of P5,500,000 at year-end and the transaction cost that would be incurred on sale is estimated at P100,000. No securities were sold during the current year. What amount of unrealized gain or loss on these securities should be reported in the income statement for the current year? Clarify if it is unrealized gain or unrealized loss.

2. During 2019, BBB Company purchased marketable securities as a trading investment. For the year ended December 31, 2019, the entity recognized an unrealized loss of P230,000. There were no security transactions during 2020. The entity provided the following information on December 31, 2020: Marketable security Cost Market Value X 2,450,000 2,300,000 Y 1,800,000 1,820,000 In the 2020 income statement, what amount should be reported as unrealized gain or loss?

3. During 2019, CCC Company bought the shares of ZZZ Company. June 1 = 20,000 shares @ P100 = 2,000,000; Dec. 1 = 30,000 shares @ P120 = 3,600,000. Transactions for 2020 are: January 10 = Received 20 @ share dividend; July 20 = Received cash dividend of P10 per share; December 10 = Sold 30,000 shares at P125 per share. What amount should be reported as dividend income for 2020?

4. Using the same problem (#3For your answer: Indicate the amount only without comma or peso sign.) above, what is the gain on the sale of shares under FIFO approach?

5. Using the same data in #3, what is the gain on sale of shares under average approach? Answer should be in amount without comma or peso sign.

6. DDD Company received dividends from share investments during the current year: a) A share dividend of 4000 shares from EEE Company when the market price of EEE's share was P20. DDD Company owns less than 1% of EEE's share capital. b) A cash dividend of P150,000 from LLL Company in which DDD Company owns a 25% interest. A majority of LLL's directors are also directors of DDD Company. What amount of dividend revenue should be reported for the current year?

7)

On March 1, Evan Company purchased 10,000 ordinary shares at P80 per share. On September 30, Evan Company received 10,000 share rights to purchase an additional 10,000 shares at P90 per share. On September 30, the share had a market value P95 and the share right had a market value of P5. What amount should be reported for investment in share rights on September 30? a. 150,000 b. 100,000 C. 50,000 P 60,000At the beginning of current year, Carmela Company acquired nontrading equity instrument for P4,000,000. The equity instrument is irrevocably designated as financial asset at fair value through other comprehensive income. The transaction cost incurred amounted to P700,000. The fair value of the instrument was P5,500,000 at year-end and the transaction cost that would be incurred on the sale of the investment is estimated at P600,000. What amount of gain should be recognized in other comprehensive income for the current year? a. 200,000 b. 900,000 c. 800,000 d. 0Trinidad Company provided the following portfolio of equity investments measured at fair value through other comprehensive income: Aggregate cost - December 31, 2019 1,700,000 Unrealized gain - December 31, 2019 40,000 Unrealized loss - December 31, 2019 260,000 Net realized gain during 2019 300,000 On January 1, 2019, the entity reported an unrealized loss of P15,000 as a component of other comprehensive income. In the 2019 statement of changes in equity, what cumulative amount should be reported as unrealized loss on these securities? a. 260,000 b. 220,000 205,000 dAt the beginning of current year, Remington Company acquired 200,000 ordinary shares of Universal Company for P9,000,000. At the time of purchase, Universal Company had outstanding 800,000 shares with a carrying amount of P36,000,000. The following events took place during the current year: Universal Company reported net income of P1,800,000 for the current year. Remington Company received from Universal Company a dividend of P3.00 per ordinary share or P600,000. The market value of Universal Company share had temporarily declined to P40. Remington Company has elected irrevocably to measure the investment at fair value through other comprehensive income. What is the carrying amount of the investment at year-end? a. 9,000,000 b. 8,000,000 c. 9,300,000 d. 9,450,000