On January 1, 2020, the Soondubu Stew Corporation purchased equity securities to be held fo ading purposes for P2,000,000. The company also paid commissions, taxes and other ansaction costs amounting to P50,000. The securities had fair values at December 31, 2020 nd 2021, respectively: P1,750,000 and P2,100,000. No securities were sold during 2020. What mount of unrealized gain (loss) should be reported in the 2020 profit or loss section of the tatement of comprehensive income? *

On January 1, 2020, the Soondubu Stew Corporation purchased equity securities to be held fo ading purposes for P2,000,000. The company also paid commissions, taxes and other ansaction costs amounting to P50,000. The securities had fair values at December 31, 2020 nd 2021, respectively: P1,750,000 and P2,100,000. No securities were sold during 2020. What mount of unrealized gain (loss) should be reported in the 2020 profit or loss section of the tatement of comprehensive income? *

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 2021, Anthony Company purchased debt securities as a long-term investment and classified them as trading. All securities were purchased at par value. Pertinent data are as follows: The net holding gain or loss included in Anthonys income statement for the year should be: a. 0 b. 3,000 gain c. 9,000 loss d. 12,000 loss
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