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  • Barcenas, Jonell C. Mrs. Yang 3BSA-1: Entries: 2003

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    The document contains a summary of investment transactions for 2003 and 2004. It records purchases and sales of equity securities designated as fair value through other comprehensive income (FVOCI) and bonds at amortized cost. It also records related cash receipts such as dividends and interest income, as well as realized gains and losses on sales and unrealized gains and losses from fair value adjustments.

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    The document contains a summary of investment transactions for 2003 and 2004. It records purchases and sales of equity securities designated as fair value through other comprehensive income (FVOCI) and bonds at amortized cost. It also records related cash receipts such as dividends and interest income, as well as realized gains and losses on sales and unrealized gains and losses from fair value adjustments.

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    16 views2 pages

    Barcenas, Jonell C. Mrs. Yang 3BSA-1: Entries: 2003

    Uploaded by

    Jonell
    The document contains a summary of investment transactions for 2003 and 2004. It records purchases and sales of equity securities designated as fair value through other comprehensive income (FVOCI) and bonds at amortized cost. It also records related cash receipts such as dividends and interest income, as well as realized gains and losses on sales and unrealized gains and losses from fair value adjustments.

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    © All Rights Reserved
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    of 2

    PT 2

    Barcenas, Jonell C. Mrs. Yang


    3BSA-1

    ENTRIES:

    2003
    a. Mar 1 Investment in equity securities - FVOCI 62,000,000
    Cash 62,000,000

    b. April 15 Investment in bonds at amortized cost 100,000,000


    Cash 100,000,000

    c. July 2 Cash 1,500,000


    Dividend Income 1,500,000

    d. Oct. 15 Cash 5,000,000


    Interest Income 5,000,000

    e. Oct. 16 Cash 51,250,000


    Investment in bonds at amortized cost 50,000,000
    Realized gain on sale 1,250,000

    f. Nov. 11 Investment in equity securities - FVOCI 20,000,000


    Cash 20,000,000

    g. Dec.31 Investment in equity securities - FVOCI 2,000,000


    Unrealized gain - OCI 2,000,000

    Unrealized loss - OCI 1,500,000


    Investment in equity securities - FVOCI 1,500,000

    No entry
    Fair value adjustment in bonds at
    amortized cost

    2004
    h. Jan. 31 Investment in equity securities - FVOCI 64,000,000
    Held for trading securities 64,000,000
    Correcting entry

    Gain on Reclassification – P/L 2,000,000


    Unrealized gain - OCI 2,000,000
    Correcting entry

    i. Feb. 14 Cash 32,500,000


    Investment in equity securities - FVOCI 32,000,000
    Realized gain on sale 500,000

    Unrealized gain - OCI 1,000,000


    Retained Earnings 1,000,000

    j. Mar. 15 Cash 19,500,000


    Investment in equity securities - FVOCI 19,500,000

    Investment in equity securities - FVOCI 1,000,000


    Unrealized Gain – OCI (19,500,000 – 1,000,000
    18,500,000)

    Retained Earnings 500,000


    Unrealized Loss - OCI 500,000

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