change during 2019 in the composition of the portfolio of trading securities. On December 31, 2020 the market value of the portfolio total P700,000. What amount of unrealized gain on these securities should be included in the 2020 income statement?
change during 2019 in the composition of the portfolio of trading securities. On December 31, 2020 the market value of the portfolio total P700,000. What amount of unrealized gain on these securities should be included in the 2020 income statement?
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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During 2019, Hanz Company purchased marketable equity securities for P650,000 to be held as trading investments. In 2019, the entity appropriately reported an unrealized loss of P30,000 in the income statement. There was no change during 2019 in the composition of the portfolio of trading securities. On December 31, 2020 the market value of the portfolio total P700,000. What amount of unrealized gain on these securities should be included in the 2020 income statement?
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