During 2019, Hanz Company purchased marketable equity securities for P650,000 to be held as trading securities. 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? *

During 2019, Hanz Company purchased marketable equity securities for P650,000 to be held as trading securities. 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? *

Name: Please show the proper solution in a good accounting.(There is a add,
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Description: Please show the proper solution in a good accounting.(There is a add, less, multiplied by and etc.) During 2019, Hanz Company purchased marketable equity securities forP650,000 to be held as trading securities. In 2019, the entity appropriatelyreport

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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