Reference no: EM132934919
Questions -
Q1) On November 1, 2020 Pink Company invested in P600,000 in equity securities representing 20,000 ordinary shares of BSMA Company. On December 31, 2020, this investment has a market value of P580,000. On April 15, 2021, Pink Company sold the investment for P630,000.
What amount of realized gain should Pink Company disclosed in the profit or loss as a result of the disposal assuming the security was classified as investment at fair value through other comprehensive income?
a. P50,000
b. P30,000
c. P40,000
d. P0
Q2) Silver Corp. has the following investments which were held throughout 2020 to 2021:
Trading
Cost- P300,000
FV, 12/31/2020- P400,000
FV, 12/31/2021- P380,000
Non-trading
Cost- P300,000
FV, 12/31/2020- P320,000
FV, 12/31/2021- P360,000
What amount of gain or loss would Silver Corp. report in its statement of financial position for the year ended December 31, 2021, related to its investments?
a. P20,000 unrealized gain
b. P60,000 unrealized gain
c. P40,000 unrealized loss
d. P120,000 unrealized gain
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