Reference no: EM132617805
The following information pertains to ABC's long-term marketable equity securities portfolio:
December 31, 2017 December 31, 2016
Cost P200,000 P200, 000
Fair Value 240,000 180,000
Problem 1: Differences between cost and fair values are considered to be temporary. The decline in market value was properly accounted for at December 31, 2016. At December 31, 2017, what is the net realizable holding gain or loss to be reported as:
Option A. Answer not given
Option B. OCI: P0; Accumulated OCI: P0
Option C. OCI: P20,000; Accumulated OCI: P20,000 loss
Option D. OCI: P40,000; Accumulated OCI: P60,000 gain
Option E. OCI: P60,000; Accumulated OCI: P40,000 gain
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