On its December 31, 2022 statement of financial position, Perseverance Company appropriately reported a P140,000 unrealized gain. There was no change during 2023 in the composition of Perseverance's portfolio of equity securities held as non-trading securities. The following information pertains to that portfolio: Security A B C Fair Value on Cost 12/31/2023 450,000 515,000 840,000 720,000 790,000 750,000 13. What amount of unrealized gain on these securities should be included in Perseverance's statement of changes in owners' equity at December 31, 2023? P45,000 b. P95,000 C. P140,000 d. P185,000 14. The amount of unrealized loss to appear as a component of comprehensive income for the year ending December 31, 2023 is a. P45,000 b. P95,000 C. P140,000 d. P185,000

On its December 31, 2022 statement of financial position, Perseverance Company appropriately reported a P140,000 unrealized gain. There was no change during 2023 in the composition of Perseverance's portfolio of equity securities held as non-trading securities. The following information pertains to that portfolio: Security A B C Fair Value on Cost 12/31/2023 450,000 515,000 840,000 720,000 790,000 750,000 13. What amount of unrealized gain on these securities should be included in Perseverance's statement of changes in owners' equity at December 31, 2023? P45,000 b. P95,000 C. P140,000 d. P185,000 14. The amount of unrealized loss to appear as a component of comprehensive income for the year ending December 31, 2023 is a. P45,000 b. P95,000 C. P140,000 d. P185,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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