Question
Hilton, Inc. has entity securities designated as at fair value through profit or loss that were purchased during 2019. At the end of 2019, the
Hilton, Inc. has entity securities designated as at fair value through profit or loss that were purchased during 2019. At the end of 2019, the securities had total fair value of P525,000. As of December 31, 2020, the cost and fair values are as follows: Investment 1: Cost - 100,000, Fair Value - 90,000; Investment 2: Cost - 190,000, Fair Value - 210,000; Investment 3: Cost - 250,000; Fair Value - 235,000. The gain or loss that would be reported in profit or loss as a result of the valuation of the securities at the end of 2017 is
P5,000
P10,000
P20,000
P25,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started