Question: 3 ProblemsIntermediate 1 On January 1, 2023, an entity purchased equity securities to be held as trading for P3,500,000. The company also paid commission, taxes

3 ProblemsIntermediate 1

On January 1, 2023, an entity purchased equity securities to be held as "trading" for P3,500,000. The company also paid commission, taxes and other transaction costs amounting to P210,000. The securities had a market value of P3,570,000 on December 31, 2023. No securities were sold during 2023. This problem has two questions - unrealized gain or loss amount reported in P/L What amount of on these securities should be reported in the 2023 profit or loss section? 70,000 (70,000) O (140,000) 140,000 On January 1, 2022, an entity purchased nontrading equity securities for * 2 P6,000,000. The investment was irrevocably designated to be measured at FVOCI. The company also paid P360,000 in the form of transaction costs. The securities had a market value of P5,400,000 on December 31, 2022 and P6,600,000 on December 31, 2023. This problem has two questions: - Unrealized gain or loss to be reported in the 2022 OCI? - Cumulative unrealized gain or loss to be reported in the 2023 statement of changes in equity What amount of unrealized gain or loss to be reported in the 2022 other comprehensive income? (600,000) 600,000 O (960,000) O 960,000 On January 1, 2022, an entity purchased the following "trading" equity securities: Investment A at P1M, Investment B at P2M and Investment C at P3M. Market values on December 31, 2022 were as follows: Investment A at P1.2M, Investment B at P1.5M and Investment C at P3.1M. On July 1, 2023 the entity sold Security A for P1,400,000. This problem has two questions: - unrealized gain or loss in 2022 gain on sale in 2023 What amount should be reported as unrealized gain or loss in the 2022 income statement? 800,000 600,000 (200,000) O (400,000)

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