During 2022, ABC Corp. acquired 500 shares of XYZ stock at P30 per share. ABC accounted for the stock as FVOCI financial assets. The market price per share of ABC's stock as of December 31, 2022 and 2023, is P22.50 and P39.50, respectively. 1. How much-unrealized gain or loss on long term investments should ABC report on its December 31, 2022, statement of comprehensive income? Use negative sign for the unrealized loss 2. How much unrealized gain or loss on long-term investments should ABC report on its December 31, 2022. stockholders equity? Use negative sign for the unrealized loss 3. How much-unrcalized gain or loss on long-term investments should ABC report on its December 31, 2023, statement of comprehensive income? Use negative sign for the unrealized los 4. How much-unrealized gain or loss on long-term investments should ABC report on its December 31, 2023, stockholders equity? Use negative sign for the unrealized loss
During 2022, ABC Corp. acquired 500 shares of XYZ stock at P30 per share. ABC accounted for the stock as FVOCI financial assets. The market price per share of ABC's stock as of December 31, 2022 and 2023, is P22.50 and P39.50, respectively. 1. How much-unrealized gain or loss on long term investments should ABC report on its December 31, 2022, statement of comprehensive income? Use negative sign for the unrealized loss 2. How much unrealized gain or loss on long-term investments should ABC report on its December 31, 2022. stockholders equity? Use negative sign for the unrealized loss 3. How much-unrcalized gain or loss on long-term investments should ABC report on its December 31, 2023, statement of comprehensive income? Use negative sign for the unrealized los 4. How much-unrealized gain or loss on long-term investments should ABC report on its December 31, 2023, stockholders equity? Use negative sign for the unrealized loss
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...
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