28. During 2013, K Company purchased marketable equity securities to be measured at fair value through other comprehensive income. On December 31, 2013, the balance in the unrealized loss on these securities was P200,000. There were no security transactions during 2014. Pertinent data on December 31, 2014 are as follows: Security Cost Market value 2,100,000 1,850,000 1,050,000 Security X Y Cost 2,100,000 1,850,000 1,050,000 JM Market value 1,600,000 900.000 In the statement of changes in equity for 2014, what amount should be included as cumulative 1,600,000 2,000,000 900,000 Y unrealized loss as component of other comprehensive income? а. 500,000 b. 300,000 c. 200,000 d. 0

28. During 2013, K Company purchased marketable equity securities to be measured at fair value through other comprehensive income. On December 31, 2013, the balance in the unrealized loss on these securities was P200,000. There were no security transactions during 2014. Pertinent data on December 31, 2014 are as follows: Security Cost Market value 2,100,000 1,850,000 1,050,000 Security X Y Cost 2,100,000 1,850,000 1,050,000 JM Market value 1,600,000 900.000 In the statement of changes in equity for 2014, what amount should be included as cumulative 1,600,000 2,000,000 900,000 Y unrealized loss as component of other comprehensive income? а. 500,000 b. 300,000 c. 200,000 d. 0

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter13: Marketable Securities And Derivatives

Section: Chapter Questions

Problem 17E

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