Pompey Inc. carries the following marketable equity securities on its books at December 31, 2019 and 2020. All securities were purchased during 2019. Trading Securities: Cost Fair Value 12/31/19 12/31/20 P Company R Company T Company Total 500,000 260,000 260,000 400,000 400,000 500,000 1,300,000 400,000 700,000 1,460,000 600,000 1,260,000 Financial asset @ FVOCI: Cost Fair Value 12/31/19 12/31/20 4,100,000 3,600,000 1,400,000 5,000,000 3,600.000 C Company | Company Total 1,200,000 4,800,000 1,000,000 5,100,000 The net unrealized gain/loss at December 31, 2020 in accumulated other comprehensive income in shareholders' equity is O P100,000 loss OP 40.000 gain O P260.000 loss O P200,000 gain
Pompey Inc. carries the following marketable equity securities on its books at December 31, 2019 and 2020. All securities were purchased during 2019. Trading Securities: Cost Fair Value 12/31/19 12/31/20 P Company R Company T Company Total 500,000 260,000 260,000 400,000 400,000 500,000 1,300,000 400,000 700,000 1,460,000 600,000 1,260,000 Financial asset @ FVOCI: Cost Fair Value 12/31/19 12/31/20 4,100,000 3,600,000 1,400,000 5,000,000 3,600.000 C Company | Company Total 1,200,000 4,800,000 1,000,000 5,100,000 The net unrealized gain/loss at December 31, 2020 in accumulated other comprehensive income in shareholders' equity is O P100,000 loss OP 40.000 gain O P260.000 loss O P200,000 gain
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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