1620 INSTALLMENT NOTESCONTINGENCIES ANDSALES81,000 BEG RE1620PURCHASES56,700 DIVIDENDS EXPENSE5670 PENSIONS2025BEG INVENTORY16,200DRAWINGS405OPERATING LEASE1215ENDING INVENTORY24,300 BEG OE8,1004,050 COMMON STOCK2,025 TREASURY STOCKSUPPLIES EXP8,100ADVERTISINGE EXP1215DEPRECIATION EXP (BUILDING ANDPREFERED STOCKPAID UP CAPITAL IN810 EXCESSEQUIPMENT)972810RENT EXPENSE1215AMORTIZATION EXP567CURRENT ASSETS16,200INTEREST EXP64812150NWCBUILDING AND1,215 EQUIPMENT,NETDIVIDEND INCOMEINTEREST INCOME32,400567COPY RIGHTS,NET11340LONG TERMТAX EXPLOSS DUE TO SALE OF FALONG TERM DEBT12% INVESTEMENTS1296081030,087GIVEN THE INFORMATION (YEAR END 2020) ABOUT PLUTO INCOPORTATION.МАКE ITSINCOME STATEMENT (2020)STATEMENT OF RETAINED EARNINGS (2020)STATEMENT OF OWNERS EQUITY (2020)BALANCE SHEET (2020)CALCULATE AND INTERPRET GROSS PROFIT MARGIN (2020)CALCULATE AND INTERPRET (DERECIATION/AMORTIZATION) /DEPRCIABLE ASSETS (2020)

Income Statement is used to report a company financial statement during the accounting period and…

GIVEN THE INFORMATION (YEAR END 2020) ABOUT PLUTO INCOPORTATION. ΑΚΕ TS INCOME STATEMENT (2020) STATEMENT OF RETAINED EARNINGS (2020) STATEMENT OF OWNERS EQUITY (2020) BALANCE SHEET (2020) CALCULATE AND INTERPRET GROSS PROFIT MARGIN (2020) CALCULATE AND INTERPRET (DERECIATION/AMORTIZATION) /DEPRCIABLE ASSETS (2020)

GIVEN THE INFORMATION (YEAR END 2020) ABOUT PLUTO INCOPORTATION. ΑΚΕ TS INCOME STATEMENT (2020) STATEMENT OF RETAINED EARNINGS (2020) STATEMENT OF OWNERS EQUITY (2020) BALANCE SHEET (2020) CALCULATE AND INTERPRET GROSS PROFIT MARGIN (2020) CALCULATE AND INTERPRET (DERECIATION/AMORTIZATION) /DEPRCIABLE ASSETS (2020)

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA2: Investments

Section: Chapter Questions

Problem 22E

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Paul Company presented the following information pertaining to its investments in equity securities. FVPL FVOCICost P1,000,000 P1,000,000Market value December 31, 2020 1,050,000 980,000 December 31, 2019 950,000 920,0001. What amount should Paul Company report as unrealized gain on its 2020 profit or loss? a. P160,000 b. P110,000 c. P100,000 d. P 50,000 2.What amount should Paul report as unrealized gains/losses in the shareholders' equity of its December 31, 2020 statement of financial position? a. P60,000 credit b. P20,000 debit c. P80,000 debit d. P20,000 credit
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Paul Company presented the following information pertaining to its investments in equity securities. FVPL FVOCICost P1,000,000 P1,000,000Market value December 31, 2020 1,050,000 980,000 December 31, 2019 950,000 920,000 2.What amount should Paul report as unrealized gains/losses in the shareholders' equity of its December 31, 2020 statement of financial position?
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