Question
On December 31, 2019, DJ Corporation appropriately reported a P100,000 unrealized loss. There was no change during 2020 in the composition of the portfolio of
On December 31, 2019, DJ Corporation appropriately reported a P100,000 unrealized loss.
There was no change during 2020 in the composition of the portfolio of nontrading equity securities held at fair value through other comprehensive income. The portfolio has the following securities:
| Security | Cost | Market Value, Dec. 31, 2020 |
| A | P1,200,000 | P1,300,000 |
| B | 900,000 | 500,000 |
| C | 1,600,000 | 1,500,000 |
- What is the market value of the investment on December 31, 2019?
- What amount of loss on these securities should be included in the statement of comprehensive income for the year ended December 31, 2020 as component of other comprehensive income?
- What cumulative amount of loss on these securities should be reported in the statement of financial position for the year ended December 31, 2020?
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Vector Mechanics for Engineers Statics and Dynamics
Authors: Ferdinand Beer, E. Russell Johnston Jr., David Mazurek, Phillip Cornwell, Brian Self
11th edition
73398241, 978-0073398242
