Pompey Inc. carries the following marketable equity securities on its books at Decemb- 31, 2019 and 2020. All securities were purchased during 2019. Trading Securities: Cost Fair Value 12/31/19 12/31/20 260,000 400,000 600,000 1,260,000 400,00 P Company R Company T Company 500,000 260,000 700,000 400,00 500,00 Total 1,460,000 1,300,00 Financial asset @ FVOCI: Cost Fair Value 12/31/19 12/31/20 4,100,000 1,000,000 5,100,000 3,600,000 1,200,000 4,800,000 3,600,00 C Company | Company Total 1,400,00 5,000,00 The net amount to be recognized in 2020 comprehensive income is
Pompey Inc. carries the following marketable equity securities on its books at Decemb- 31, 2019 and 2020. All securities were purchased during 2019. Trading Securities: Cost Fair Value 12/31/19 12/31/20 260,000 400,000 600,000 1,260,000 400,00 P Company R Company T Company 500,000 260,000 700,000 400,00 500,00 Total 1,460,000 1,300,00 Financial asset @ FVOCI: Cost Fair Value 12/31/19 12/31/20 4,100,000 1,000,000 5,100,000 3,600,000 1,200,000 4,800,000 3,600,00 C Company | Company Total 1,400,00 5,000,00 The net amount to be recognized in 2020 comprehensive income is
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...
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![Pompey Inc. carries the following marketable equity securities on its books at December
31, 2019 and 2020. All securities were purchased during 2019.
Trading Securities:
Cost
Fair Value
12/31/19
12/31/20
400,000
400,000
500,000
1,300,000
260,000
400,000
P Company
R Company
T Company
Total
500,000
260,000
700,000
1,460,000
600,000
1,260,000
Financial asset @ FVOCI:
Cost
Fair Value
12/31/19
12/31/20
C Company
| Company
Total
4,100,000
1,000,000
´ 5,100,000
3,600,000
1,200,000
4,800,000
3,600,000
1,400,000
5,000,000
The net amount to be recognized in 2020 comprehensive income is](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbb6a72f2-4ad6-4e5c-a93b-0fd9115e4cb5%2F7d8bde96-91c7-4974-90c0-7a0c137a12e4%2Fccecrt_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Pompey Inc. carries the following marketable equity securities on its books at December
31, 2019 and 2020. All securities were purchased during 2019.
Trading Securities:
Cost
Fair Value
12/31/19
12/31/20
400,000
400,000
500,000
1,300,000
260,000
400,000
P Company
R Company
T Company
Total
500,000
260,000
700,000
1,460,000
600,000
1,260,000
Financial asset @ FVOCI:
Cost
Fair Value
12/31/19
12/31/20
C Company
| Company
Total
4,100,000
1,000,000
´ 5,100,000
3,600,000
1,200,000
4,800,000
3,600,000
1,400,000
5,000,000
The net amount to be recognized in 2020 comprehensive income is
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