Question
Inspiration Company had trading and non-trading investment held throughout 2020 and 2021. The non-trading investments are measured at fair value through other comprehensive income. The
Inspiration Company had trading and non-trading investment held throughout 2020 and 2021. The non-trading investments are measured at fair value through other comprehensive income. The investments had a cost for trading and P3,000,000 for non-trading. The investments had the following fair value at year-end:
| 12/31/20 | 12/31/21 | |
| Trading | 4,000,000 | 3,800,000 |
| Non-trading | 3,200,000 | 3,700,000 |
What amount of unrealized gain or loss should be reported in the income statement for 2021?
a.P200,000 loss
b.P300,000 loss
c.P300,000 gain
d.P200,000 gain
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Accounting And Auditing A Review Of Practices And Empirical Research Accounting Disclosure Auditing Performance Governance And Gender Diversity
Authors: Tariq H. Ismail
1st Edition
1636486517, 978-1636486512
