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In 2019, Damien Company purchased debt and equity securities. Damien's business model in holding debt securities is to earn profit from short term fluctuations in price. Damien Company's fiscal year ends on December 31. No investments were held by the company at the beginning of the year. Described below are the company's investment related transactions: 2019 March 1 April 15 July 23 October 15 Purchased 30,000 Pogo, Inc. ordinary shares for P750,000. Purchased P1,000,000 of 10% bonds at face value from Oats Corporation Received cash dividends of P60.000 of the investment in Pogo, Inc. ordinary shares. Received semiannual interest on the investment in Oats Corporation bonds. Sold the Oats Corporation bonds for P1.100,000. Purchased 250,000 Elf Co. preference shares for P12,500,000. The market values of the investments are P30 per share for Pogo, Inc. ordinary shares and P44 per share for Elf Co. preferences shares. October 16 November 2 December 31 2020 January 27 March 2 Sold half the Pogo, Inc. shares for P65 per share Sold the Elf Co. preference shares for P78 per share. How much unrealized gain (loss) should be reported in profit or loss in 2019? O a. P150,000 O b. (P1,500,000) c. P100,000 O d. (P1,350,000) a During the period, one of the buildings of Entity A, a government entity, was completely destroyed by fire. The building has a historical cost of P1,000,000 and an accumulated depreciation of P400,000. The building is insured for P700,000. Which of the followingstatements is correct? * O a. Entity A reports a net gain of P300,000 from the event in its year-end financial statements. b. Entity A reports a net gain of P100,000 from the event in its year-end financial statements. c. Entity A recognizes a loss of P600,000 but no gain. d. Entity A shall treat the loss event and the insurance claim as separate events

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