Current Attempt in Progress
Pina Colada Corporation had the following portfolio of investments at December that qualified and were accounted for
using the FVOCl method:
Early in Pina Colada sold all the Frank shares for $ per share, less a commission on the sale. On December Pina
Colada's portfolio consists of the following common shares:
Assume that Pina Colada reports net income of $ for its year ended December and that the company follows a
policy of capitalizing transaction costs. Realized gains and losses on equity imvestments are reclassified from accumulated other
comprehensive income directly to retained earnings.
a
What should be reported on Pina Colada's December statement of financial position for this longterm portfolio? Enter
negative amounts using either a negative sign preceding the number eg or parentheses eg
Pina Colada Corporation
Statement of Financial Position
As at December
Investments, at Falr Value with Galns and Losses in OCl
