32. During 2013, O Company purchased marketable equity securities as short-term investment tobe measured at fair value through other comprehensive income. The cost and market value onDecember 31, 2013 were as follows:SecurityA 1,000 sharesB 10,000 sharesC 20,000 sharesCostMarket value300,0001,700,0003,150,000350,0001,550,0002,950,000The entity sold 10,000 shares of B on January 5, 2014 for P150 per share and incurredP50,000 in brokerage commission and taxes.What amount should be reported as loss on sale of equity securities in 2014?a. 200,000b. 100,000c. 250,000d. 50,000

The liss on sale of securities is calculated on the basis of market value and sale value of…

A 1,000 shares B 10,000 shares C 20,000 shares 300,000 1,700,000 3,150,000 350,000 1,550,000 2,950,000 The entity sold 10,000 shares of B on January 5, 2014 for P150 per share and incurred P50,000 in brokerage commission and taxes. What amount should be reported as loss on sale of equity securities in 2014? a. 200,000 b. 100,000 c. 250,000 d. 50,000

A 1,000 shares B 10,000 shares C 20,000 shares 300,000 1,700,000 3,150,000 350,000 1,550,000 2,950,000 The entity sold 10,000 shares of B on January 5, 2014 for P150 per share and incurred P50,000 in brokerage commission and taxes. What amount should be reported as loss on sale of equity securities in 2014? a. 200,000 b. 100,000 c. 250,000 d. 50,000

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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