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Determine the unrealized gain-loss on December

    Assignment Instructions

    Assignment ID: FG133134450

    Question – On January 1, 2021, Jeremiah Company purchased trading equity investments which are irrevocably designated at FVPL:

    Security

    Purchase price

    Transaction costs

    Fair value, Dec. 31, 2021

    A

    P1,000,000

    P100,000

    P1,500,000

    B

    2,000,000

    200,000

    2,400,000

    C

    4,000,000

    400,000

    4,700,000

    On July 5, 2022, the entity sold Security C amounting to P5,200,000.

    Determine the unrealized gain/-loss on December 31, 2021?

    How much is the total amount credited to retained earnings on July 5, 2022?

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