During the year 2019, Nice Company acquired 10,000 ordinary shares of Easy Company for P250,000 plus broker's commission of P 5,000. The shares acquired by Nice are not intended for trading and Nice does not have the ability to exercise significant influence over the operating and financial policies of Easy. The market value of these shares are as follows: December 31, 2019---------P260,000; December 31, 2020---------P280,000 How much unrealized gain on equity investment is recognized in equity for the year 2019?

During the year 2019, Nice Company acquired 10,000 ordinary shares of Easy Company for P250,000 plus broker's commission of P 5,000. The shares acquired by Nice are not intended for trading and Nice does not have the ability to exercise significant influence over the operating and financial policies of Easy. The market value of these shares are as follows: December 31, 2019---------P260,000; December 31, 2020---------P280,000 How much unrealized gain on equity investment is recognized in equity for the year 2019?

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 17P

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