What is the unrealized holding gain/loss to be reported

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Problem

The following were made available to you as part of your audit of ABC Corp.'s investment accounts as of and for the period ended December 31, 2012: Acquisition Cost FMV (12/31/2011 FMV (12/31/2012) Aye Inc, Ordinary Shares P1,200,000 P1,300,000 P750,000 Bee Inc., Preference Shares 2,100,000 1,900,000 2,240,000 See Corp., 10% 3,000, P1,000 Bonds 3,100,000 3,200,000 3,180,000 Dee Corp., Ordinary Shares 4,250,000 4,100,000 3,270,000 Audit notes: a) All the investments were acquired at the beginning of 2011. Broker's fees and commission charged to expense in 2011 related to share acquisition amounted to 10% of their acquisition cost while the company incurred brokers' fees and commission related to the bond acquisition amounted to P98,000. b) ABC Corp. owns 10,000 out of 100,000 ordinary shares outstanding of Aye Inc. which reported net income in 2011 and in 2012 at P5m and P6M, respectively. Aye Inc. also paid dividends in 2011 at P1.2M. On March 2012, ABC Corp. sold 4,000 of its stock investment in Aye at P150 per share. c) ABC Corp. owns 50% of the preference shares outstanding of Bee Inc. which reported net income in 2011 and 2012 at P2M and P3m, respectively. The company also paid P500,000 dividends to preference shares and P500,000 dividends to preference shares to ordinary shares in 2011 and P750,000 dividends to preference shares and P750,000 dividends to ordinary shares in 2012. d) The See Corp. bonds will mature on December 31, 2014. The yield rate on the acquisition date as a result of the incurrence of the transaction cost was at 8%. Interests are receivable from bonds every December 31. e) ABC Corp. owns 25,000 out of the 200,000 ordinary shares outstanding of Dee Corp. which reported net income in 2011 and 2012 at P2M and P5M, respectively. Dee Corp. also paid dividends in 2011 and 2012 at P800,000 and P1M, respectively. On December 28, 2012 after receiving the dividends declared for 2012, ABC Corp. sold 5,000 Dee Corp. shares at p160 per share. Get the instant assignment help.

Task

Assuming that all the investments are accounted for at fair market value through profit or losses under PFRS 9, what is the unrealized holding gain/loss to be reported in the 2013 statement of comprehensive income?

Reference no: EM133920539

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