This problem has 2 questions. SUKON Company acquired equity securities at the beginning of 2020....
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This problem has 2 questions. SUKON Company acquired equity securities at the beginning of 2020. SUKON Company provided you the following information:
AKO shares were acquired and were designated as financial asset at fair value through OCI. The shares were acquired at P52.50 per share which included a P2.50 per share transaction cost. Half of the AKO shares were sold at P58 per share on July 1, 2021.
14. How much is the cumulative balance of unrealized gain/loss transferred to Retained Earnings upon sale of investment?
a. 125,000 b. 400,000 c. 150,000 d. 275,000
12.
Security
No. of shares
Acquisition Cost
AKO Co. shares
100,000 shares
P5,250,000
Fair value, Dec. 31, 2020
Fair value, Dec. 31, 2021
P55/share
P62/share15. How much is the carrying value of the Investment on December 31, 2021? a. 3,100,000
b. 2,900,000
c. 2,750,000
d. none of the choices
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