Q1: How much is the reportable amount of Investments - Trading Securities as of December 31, 2019?Q2: How much is the unrealized gain (loss) to be recohnized in P/L for 2020? The ALIGNED Company held the following investments under its trading securities portfolio (FVPL):A- 1,000 ord. sharesB- 2,200 ord. sharesC - 800 bondsD- 1,500 bondsE- 500 pref sharesOriginal Costper securityP 50.0075.001,500.002,000.001,200.00Jan. 1. 2019P47.5076.001,650.002,010.001,300.00Fair Values per securityDec. 31, 2019P 51.5075 501,600 001,998.001,400.00Dec. 31, 2020P 51.2574.901,575.001.975 001,100.00The entity uses a valuation adjustment account to report these investments at fair value.71. How much is the balance in the Valuation Adjustment account as of January 1. 2019?

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Answered: Q1: How much is the reportable amount…

Q1: How much is the reportable amount of Investments - Trading Securities as of December 31, 2019? Q2: How much is the unrealized gain (loss) to be recohnized in P/L for 2020?

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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