Problem 15-9 (IFRS)Judicious Company acquired an equity investment a numberof years ago for P3,000,000 and classified it as at fair valuethrough other comprehensive income.On December 31, 2020, the cumulative loss recognized in othercomprehensive income was P400,000 and the carrying amountof the investment was P2,600,000.On December 31, 2021, the issuer of the equity instrument wasin severe financial difficulty and the fair value of the equityinvestment had fallen to P1,200,000.What cumulative amount of unrealized loss should be reportedas component of other comprehensive income in the statementof changes in equity for the year ended December 31, 2021?a. 1,400,000b. 1,800,000c. 1,000,000d.0.

An equity instrument, such as a share certificate, is a document that serves as a legally binding…

Problem 15-9 (IFRS) Judicious Company acquired an equity in of years ago for P3,000,000 and classified through other comprehensive income. On December 31, 2020, the cumulative loss comprehensive income was P400,000 and t of the investment was P2,600,000. On December 31, 2021, the issuer of the equ in severe financial difficulty and the fair - investment had fallen to P1,200,000. What cumulative amount of unrealized loss as component of other comprehensive incom of changes in equity for the year ended De a. 1,400,000 b. 1,800,000 C.

Problem 15-9 (IFRS) Judicious Company acquired an equity in of years ago for P3,000,000 and classified through other comprehensive income. On December 31, 2020, the cumulative loss comprehensive income was P400,000 and t of the investment was P2,600,000. On December 31, 2021, the issuer of the equ in severe financial difficulty and the fair - investment had fallen to P1,200,000. What cumulative amount of unrealized loss as component of other comprehensive incom of changes in equity for the year ended De a. 1,400,000 b. 1,800,000 C.

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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