On December 31, 2020, DEF, Inc. holds 100,000 shares of Devin Company with market value of P15,250,000 and originally acquired at a total amount of P15,000,000. The investment is classified as fair value through profit or loss. On July 1, 2021, DEF, Inc. purchased 30,000 additional shares of Devin Company at P152.30/share. On December 31, 2021, a share of Devin Company has a fair value of P153/share. What is the gain (loss) from change in fair value to be recognized in profit or loss in 2021? (Indicate if gain or loss)

On December 31, 2020, DEF, Inc. holds 100,000 shares of Devin Company with market value of P15,250,000 and originally acquired at a total amount of P15,000,000. The investment is classified as fair value through profit or loss. On July 1, 2021, DEF, Inc. purchased 30,000 additional shares of Devin Company at P152.30/share. On December 31, 2021, a share of Devin Company has a fair value of P153/share. What is the gain (loss) from change in fair value to be recognized in profit or loss in 2021? (Indicate if gain or loss)

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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