Problem 3 Mariah Corporation has the following non-trading equity securities on December 31, 2018: Securities No. of Shares Costs Fair Value, 12.31.18 ABC ordinary shares 9.000 P 441,000 P 46 per share DEF ordinary shares 30.000 1.080,000 P 35 per share GHI preference shares 2,400 360.000 P 154 per share Additional Notes: a. The above securities were all bought in 2018. On the initial recognition, Mariah made an irrevocable election to present gain/loss on the said securities to other comprehensive income. b. On April 1, 2019, the company sold all of the ABC ordinary shares for P 65 per share. On May 1, 2019, the company purchased 4.200 ordinary shares of JKL Corp. at P 75 per share. The company incurred broker's fees amounting to P 10,400 d. The following additional information in 2019 were deemed relevant Investment Dividend declared Reported Net Fair Values per 12.31.19 Income share 12.31.19 ABC ordinary shares P 2 per share P.900.000 P 62 per share DEF ordinary shares P 1.50 per share P 1.300.000 P 38 per share GHI preference shares P 1.00 per share P 750.000 P 145 per share JKL ordinary sharos P0.75 per share P 450.000 P 77 per share C. 13. What is the realized gain on sale of ABC ordinary shares in 2019, under PAS 39? a P 144,000 b. P 171,000 C, P 190,000 d. PO 14. What is the realized gain on sale of ABC ordinary shares in 2019, under PFRS 97 b. P 144,000 b. P 171,000 C.P 190,000 d.PO 15. What is the unrealized holding gain/loss to be reported in the stockholders' equity portion in the 2019 statement of financial position under PAS 397 a. P 76,800 b. P 56,400 C. P 46,000 d. P 66,400 16. Assuming that the company elected to report gains/loss in the profit or losses instead, what is the unrealized holding gain or loss to be reported in the 2019 statement of comprehensive income? a. P 76,800 b. P 56,400 C. P 46,000 d. P 66,400 17. Assuming that the JKL shares represents 20% interest in the JKL's outstanding shares, what is the carrying value of investment in JKL shares? a. P 412,250 b. P 382,250 0. P 371,850 d. P 401,850 So, we will use Associate now: Problem 3 Mariah Corporation has the following non-trading equity securities on December 31, 2018: Securities No. of Shares Costs Fair Value, 12.31.18 ABC ordinary shares 9.000 P 441,000 P 46 per share DEF ordinary shares 30.000 1.080,000 P 35 per share GHI preference shares 2,400 360.000 P 154 per share Additional Notes: a. The above securities were all bought in 2018. On the initial recognition, Mariah made an irrevocable election to present gain/loss on the said securities to other comprehensive income. b. On April 1, 2019, the company sold all of the ABC ordinary shares for P 65 per share. On May 1, 2019, the company purchased 4.200 ordinary shares of JKL Corp. at P 75 per share. The company incurred broker's fees amounting to P 10,400 d. The following additional information in 2019 were deemed relevant Investment Dividend declared Reported Net Fair Values per 12.31.19 Income share 12.31.19 ABC ordinary shares P 2 per share P.900.000 P 62 per share DEF ordinary shares P 1.50 per share P 1.300.000 P 38 per share GHI preference shares P 1.00 per share P 750.000 P 145 per share JKL ordinary sharos P0.75 per share P 450.000 P 77 per share C. 13. What is the realized gain on sale of ABC ordinary shares in 2019, under PAS 39? a P 144,000 b. P 171,000 C, P 190,000 d. PO 14. What is the realized gain on sale of ABC ordinary shares in 2019, under PFRS 97 b. P 144,000 b. P 171,000 C.P 190,000 d.PO 15. What is the unrealized holding gain/loss to be reported in the stockholders' equity portion in the 2019 statement of financial position under PAS 397 a. P 76,800 b. P 56,400 C. P 46,000 d. P 66,400 16. Assuming that the company elected to report gains/loss in the profit or losses instead, what is the unrealized holding gain or loss to be reported in the 2019 statement of comprehensive income? a. P 76,800 b. P 56,400 C. P 46,000 d. P 66,400 17. Assuming that the JKL shares represents 20% interest in the JKL's outstanding shares, what is the carrying value of investment in JKL shares? a. P 412,250 b. P 382,250 0. P 371,850 d. P 401,850 So, we will use Associate now