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Template Company provided the lollowing with respect to marketable equity securities held as 'trading'. 1. The entity carried the following securities on December 31, 2020: Cost Market A ordinary 4,000 shares 330,000 300,000 B ordinary 1,000 shares 200,000 150,000 C preference 2,000 shares 300,000 310,000 830,000 770,000 2. On June 30, 2021, the entity sold all the B ordinary shares for P140000. 3. On December 31, 2021, the securities are quoted as follows: A ordinary 7 4,000 shares P30 per share C preference 2,000 shares P1 30 per share Requirement: Complete the table below. Write zero (0) if it is not applicable. December 31, 2019 December 31, 2020 December 31, 2021 Statement of Financial Position Investments FVPL Statement of Changes in Equity Retained earnings Unrealized gain!(loss) Realized gain!(loss} Transitory Company acquired the following equity securities: Cost December 31' 2020 Moon Company 200'000 Star Company 400'000 Sun Company 600'000 December 31' 2021 Moon Company 200'000 Star Company 400'000 Sun Company 600'000 Market 120000 280000 650000 220000 300000 580000 The equity securities do not qualify as held for trading. The entity has elected irrevocably to present changes in fair value in other comprehensive income. Requirement: Complete the table below. Write zero (0) if it is not applicable. | January 1' 2020 | | Statement of Financial Position Investments FVOCI I Statement of Equity December 31, 2020 | December 31, 2021 Other Comprehensive Income Statement of Other Comprehensive Income Unrealized gain} (loss) I On January 1, 2020, Spark Company purchased the following trading securities: Cost Fair Value December 31, 2020 Aura Company ordinary 600,000 650,000 Bora Company preference 350,000 200,000 Cara Company bonds 500,000 400,000 On October 1, 2021, the entity sold one-half of Aura Company for P375,000. On December 31, 2021, the fair value of the remaining securities was P800,000. Requirement: Complete the table below. Write zero (0) if it is not applicable. December 31, 2019 December 31, 2020 December 31, 2021 Statement of Financial Position Investments - FVPL Statement of Changes in Equity Retained earnings Statement of Income Unrealized gain/(loss) Realized gain/(loss)Splendid Company purchased equity securities during 2020 to be held as investments. The cost and market value of the investments are: Cost Market December 31, 2020 Trading securities 2,000,000 2,500,000 Securities not held for trading 3,000,000 2,900,000 December 31, 2021 Trading securities 2,000,000 2,200,000 Securities not held for trading 3,000,000 2,300,000 The securities not held for trading are measured at fair value through other comprehensive income by irrevocable election. Requirement: Complete the table below. Write zero (0) if it is not applicable. December 31, 2019 December 31, 2020 December 31, 2021 Statement of Financial Position Investments - FVPL Investments - FVOCI Statement of Changes in Equity Other Comprehensive Income Retained earnings Statement of Comprehensive Income Net income - Unrealized gain/(loss) Net income - Realized gain/(loss) Other Comprehensive Income - Unrealized gain/(loss)Aborgine Company reported the following accounts in the Statement of Financial Position on January 1, 2020: Noncurrent assets Financial asset - FVOCI 4,000,000 Market adjustment for unrealized loss (500,000) Market value 3,500,000 Other comprehensive income Unrealized loss 500,000) An analysis of the investment portfolio revealed the following on December 31, 2020: Cost Market XYZ ordinary share 1,000,000 1,200,000 ABC ordinary share 2,500,000 2,000,000 RST preference share 500,000 200,000 ,000,000 3,400,000 On July 1, 2021, the ABC ordinary share was sold for P2, 100,000. On December 31, 2021, the remaining investments have the following market value: XYZ ordinary share 1,000,000 RST preference share 150,000 Requirement: Complete the table below. Write zero (0) if it is not applicable. January 1, 2020 December 31, 2020 December 31, 2021 Statement of Financial Position Investments - FVOC Statement of Equity Other Comprehensive Income Retained earnings Statement of Other Comprehensive Income Unrealized gain/(loss)
