On its December 31, 2020, balance sheet, Post Co. reported its investment in financial asset @ fair value through other comprehensive income, which had cost P360,000, at fair value of P330,000. At December 31, 2021, the fair value of the securities was 350,000. What should Post report on its 2021 income statement as a result of the increase in fair value of the investments in 2021? Unrealized loss of P10,000 Unrealized gain of P20,000 Nil Realized gain of P20,000
On its December 31, 2020, balance sheet, Post Co. reported its investment in financial asset @ fair value through other comprehensive income, which had cost P360,000, at fair value of P330,000. At December 31, 2021, the fair value of the securities was 350,000. What should Post report on its 2021 income statement as a result of the increase in fair value of the investments in 2021? Unrealized loss of P10,000 Unrealized gain of P20,000 Nil Realized gain of P20,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On its December 31, 2020,
Unrealized loss of P10,000
Unrealized gain of P20,000
Nil
Realized gain of P20,000
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