question archive On January 1, 2010, Caraga Company purchased equity securities to be held as ”at fir value through other comprehensive income
On January 1, 2010, Caraga Company purchased equity securities to be held as ”at fir value through other comprehensive income
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On January 1, 2010, Caraga Company purchased equity securities to be held as ”at fir value through other comprehensive income.” The cost and market value of the securities were:
Cost Market – 12/31/2010 Market – 12/31/2011
|
Security R |
3,000,000 |
3,200,000 |
- |
|
Security S |
4,000,000 |
3,500,000 |
3,700,000 |
|
Security T |
5,000,000 |
4,600,000 |
4,700,000 |
On January 31, 2011, Caraga Company sold Security R for P3, 500,000.
What unrealized gain or loss on the remaining financial asset should be in the 2011 statement of comprehensive income as component of other comprehensive income?
|
a. 600, 000 gain b. 600, 000 loss c. 300, 000 gain d. 300, 000 loss |
|
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