Aborgine Company reported the following accounts in the Statement of Financial Position on January 1,...
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Aborgine Company reported the following accounts in the Statement of Financial Position on January 1, 2020: Noncurrent assets Financial asset - FVOCI Market adjustment for unrealized loss Market value Other comprehensive income Unrealized loss 4,000,000 (500,000) 3,500,000 (500,000) An analysis of the investment portfolio revealed the following on December 31, 2020: Cost XYZ ordinary share ABC ordinary share RST preference share 1,000,000 2,500,000 500,000 Market 1,200,000 2,000,000 200,000 3,400,000 4,000,000 On July 1, 2021, the ABC ordinary share was sold for P2,100,000. On December 31, 2021, the remaining investments have the following market value: XYZ ordinary share RST preference share 1,000,000 150,000 Requirement: Complete the table below. Write zero (0) if it is not applicable. January 1, 2020 December 31, 2020 December 31, 2021 Statement of Financial Position Investments - FVOCI Statement of Equity Other Comprehensive Income Retained earnings Statement of Other Comprehensive Income Unrealized gain/(loss)
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