Problem 1

Requirement 1:
Number of shares acquired 10,000
Multiply: Acquisition cost per share P 102
Initial Cost of Investment P 1,020,000

Requirement 2:
Carrying Value , Dec. 31, 2020 1,050,000
Initial Cost (1, 020,000)
Unrealized holding gain (loss) – profit or loss, 2020 30 000

Requirement 3:
Carrying value, Dec. 31, 2020 (10,000 @ 105/share) 1,050,000

Requirement 4:
Selling price (8,000 shares @119/share) 952,000
Carrying value, Dec. 31, 2020 (8,000 @105/share) (840,000)
Realized gain on disposal 112,000

Requirement 5:
Carrying value, Dec. 31, 2021 980,000
Carrying Value, Dec. 31, 2020 (1,050,000)
Unrealized holding gain (loss) – profit or loss, 2021 (70,000)

Requirement 6:
Carrying value, Dec. 31, 2021 (10,000 @ 98/share) 980,000

Requirement 7:
DATE ACCOUNTS DEBIT CREDIT
May 15, 2020, Financial Asset at FVPL 1, 020,000
Cash 1, 020,000

Broker Fees Expense 45,000

Cash 45,000

December 31, 2020 Cash 180,000

Dividend Income 180,000

Financial Asset at FVPL 30,000

Unrealized Holding Gain - Profit or Loss 30,000

December 31, 2021 Unrealized Holding Loss - Profit or Loss (70,000)

Financial Asset at FVPL (70,000)

July 16, 2021 Cash 952,000

Financial Asset at FVPL 840,000
Realized Gain on Disposal 112,000
Problem 2
Requirement 1:
Number of shares acquired 2,000
Multiply: Acquisition cost per share P 605
Total cost of shares 1,210,000
Transaction costs 105,000
Initial cost of investment 1,315,000

Requirement 2:
Carrying Value , Dec. 31, 2020 1,300,000
Initial Cost (1,315,000)
Unrealized holding gain (loss) – OCI, 2020 (15,000)

Requirement 3:
Unrealized holding gain (loss), Dec. 31, 2020 (15,000)

Requirement 4:
Carrying value, Dec. 31, 2020 (2,000 @650/share) 1,300,000

Requirement 5:
Carrying Value , Dec. 31, 2021 1,190,000
Carrying Value , Dec. 31, 2020 (1,300,000)
Unrealized holding gain (loss) – OCI, 2021 (110,000)

Requirement 6:
Unrealized holding gain (loss), Dec. 31, 2020 (15,000)
Unrealized holding gain (loss) - OCI, 2021 (110,000)
Unrealized holding gain (loss), Dec. 31, 2021 95,000

Requirement 7:
Carrying value, Dec. 31, 2021 (2,000 @6595/share) 1,190,000

Requirement 8:
Answer: Zero

Requirement 9:
Carrying value, Dec. 31, 2022 (2,000 @633/share) 1,266,000

Problem 3
Requirement 1:
Unrealized holding gain (loss), Dec. 31, 2019 0
Unrealized holding gain (loss) - OCI, 2020 (23,000)
Unrealized holding gain (loss), Dec. 31, 2020 23,000
Requirement 2:
Carrying Value , Dec. 31, 2020 600,000
Carrying Value , Dec. 31, 2019 (623,000)
Unrealized holding gain (loss) – OCI, 2020 (23,000)

Requirement 3:
ABBY Company 20,000
BETH Company 95,000
CATHY, Inc 72,000
DEBBY Corporation 10,600
Total Dividends 197,600

Requirement 4:
ABBY Company 20,000
BETH Company 95,000
Current Assets 115,000

Requirement 5:
CATHY, Inc 72,000
DEBBY Corporation 10,600
Non-current Assets 82,600