Scribd Logo
Upload

Welcome to Scribd!

    • 27 views

    Inna Company

    Uploaded by

    Arlene Garcia
    The document shows accounting entries for Inna Corporation's equity investments for years 2 and 3. In year 2, the equity investments had a cost of $1.8 million and an unrealized gain of $150,000. In year 3, Inna received additional shares worth $237,500 as a bonus and sold investments for $1.05 million, resulting in an unrealized gain of $462,000 at the end of the year.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Inna Company

    Uploaded by

    Arlene Garcia
    27 views1 page
    The document shows accounting entries for Inna Corporation's equity investments for years 2 and 3. In year 2, the equity investments had a cost of $1.8 million and an unrealized gain of $150,000. In year 3, Inna received additional shares worth $237,500 as a bonus and sold investments for $1.05 million, resulting in an unrealized gain of $462,000 at the end of the year.

    Original Title

    Inna-Company

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document shows accounting entries for Inna Corporation's equity investments for years 2 and 3. In year 2, the equity investments had a cost of $1.8 million and an unrealized gain of $150,000. In year 3, Inna received additional shares worth $237,500 as a bonus and sold investments for $1.05 million, resulting in an unrealized gain of $462,000 at the end of the year.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    27 views1 page

    Inna Company

    Uploaded by

    Arlene Garcia
    The document shows accounting entries for Inna Corporation's equity investments for years 2 and 3. In year 2, the equity investments had a cost of $1.8 million and an unrealized gain of $150,000. In year 3, Inna received additional shares worth $237,500 as a bonus and sold investments for $1.05 million, resulting in an unrealized gain of $462,000 at the end of the year.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Serentas, Kristine T.

    Inna Corporation
    (a) December 31, Year 2 ledger balance P 1 950 000
    Cost 1 800 000
    Unrealized Gain or Loss on Equity Investments - OCI P 150 000

    Year 3
    Memo: Received 6,000 shares of NPA Co. ordinary as 20% bonus issue on the
    30,000 shares previously held.

    Equity Investments at Fair Value through OCI 237 500


    Unrealized Gain or Loss on Equity on Equity Investments – OCI 237 500

    Cash 1 050 000


    Equity Investments at FV through OCI 1 050 000

    Unrealized Gain or Loss on Equity Investments – OCI 300 000


    Retained Earnings 300 000

    Equity Investments at FV through OCI 42 000


    Unrealized Gain on Equity Investments at FV through OCI 42 000

    (b) None

    (c) Equity Investments at Fair Value through OCI P1 512 000

    (d) Unrealized Gain or Loss in Equity, 12/31/ Year 3 P 462 000

    Fair value, December 31, Year 3 P 1 512 000


    Cost 1 050 000
    Unrealized Gain (Loss) in Equity P 462,000

    You might also like