Lover Company reported the following non-trading equity securities held as FA at FVOCI in its December 31, 2015 statement of financial position: Broken Company ordinary shares, at cost 2,000,000 Allowance for market adjustment for unrealized loss (300,000) Market value 1,700,000 On December 31, 2016, the market value of Lover’s investment is P1,950,000. As a result of the change in market value, Lover’s statement of
Lover Company reported the following non-trading equity securities held as FA at FVOCI in its December 31, 2015
Broken Company ordinary shares, at cost 2,000,000
Allowance for market adjustment for unrealized loss (300,000)
Market value 1,700,000
On December 31, 2016, the market value of Lover’s investment is P1,950,000. As a result of the change in market value, Lover’s statement of comprehensive income for 2016 should report
What is the gain on sale in 2017 if the securities are sold at 2,500,000?
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