trading securities account has an unadjusted balance of P483,640 as of December 31, 20X1.\\nThe company's equity portfolio as of year-end showed the following:\\nTotal No. of Shares\\nCost\\nMarket Price per Share\\n Baclaran Cement\\nFil-Estate lonics\\nLa Tondena\\nSelecta\\nUnion Bank\\n7.000\\nP108.500\\nP16.00\\ n10.000\\n195.000\\n19.75\\n2,400\\ n49,200\\n24.00\\n2.000\\n67,000\\ n26.00\\n8,000\\n31,600\\n1.20\\n1. 600\\n50.880\\n27.50\\nP502,180\\n The securities are listed on the stock exchange. The company follows the fair value model in accounting for its investments. What is the adjusted trading securities balance as of December 31, 20X1?\\nA. P403.640\\nC. P491,240\\nB. P502,180\\nD. P472,700

trading securities account has an unadjusted balance of P483,640 as of December 31, 20X1.\\nThe company's equity portfolio as of year-end showed the following:\\nTotal No. of Shares\\nCost\\nMarket Price per Share\\n Baclaran Cement\\nFil-Estate lonics\\nLa Tondena\\nSelecta\\nUnion Bank\\n7.000\\nP108.500\\nP16.00\\ n10.000\\n195.000\\n19.75\\n2,400\\ n49,200\\n24.00\\n2.000\\n67,000\\ n26.00\\n8,000\\n31,600\\n1.20\\n1. 600\\n50.880\\n27.50\\nP502,180\\n The securities are listed on the stock exchange. The company follows the fair value model in accounting for its investments. What is the adjusted trading securities balance as of December 31, 20X1?\\nA. P403.640\\nC. P491,240\\nB. P502,180\\nD. P472,700

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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The values of the trading securities (FVPL) were as follows: Original cost: Securities X - P 4,000; Securities Y - P 2,000; Securities Z - P 5,000 Market value- beginning of the year: Securities X P 3,700; Securities Y - P 1,800; Securities Z - P 4,500 Market value- end of the year: Securities X P 4,200; Securities Y - P 2,300; Securities Z - none During the year security Z was sold for P 4,800. How much is the unrealized gain to be recognized during the year? OP 1,500 O P 2,000 OP 800 O P 1,000
(a) Calculate current Ratio and Quick Ratio from the followinginformation:Total Assets Rs. 350000Fixed Assets Rs. 175000Investment Rs. 70000Fictitious Assets Rs. 5000Share holders fund Rs. 200000Long term Debts Rs. 100000Inventory Rs. 45000(b) From the following information calculate the stock turnoverratio.Sales Rs. 200000, G.P 25% on cost, Opening Stock was 1/3rd of thevalue of closing stock. Closing stock was 30% of sales
Cullumber Company's equity securities portfolio which is appropriately included in current assets is as follows: Catlett Corp. Lyman, Inc. O O $-7440. O $-20400. O $0. O $-130740. December 31, 2021 Cost O $23000 loss. O $14000 loss. - $0. O $9000 gain. $150000 Cash $296000 146000 Cash Ignoring income taxes, what amount should be reported as a charge against income in Cullumber's 2021 income statement if 2021 is Cullumber's first year of operation? Debt Investments Premium on Bonds Cash Current Attempt in Progress Sunland Company purchased $2700000 of 9%, 5-year bonds from Cheyenne, Inc. on January 1, 2021, with interest payable on July 1 and January 1. The bonds sold for $2830740 at an effective interest rate of 8%. Using the effective-interest method, Sunland Company decreased the Available-for-Sale Debt Securities account for the Cheyenne, Inc. bonds on July 1, 2021 and December 31, 2021 by the amortized premiums of $10020 and $10380, respectively. Debt Investments Eair Value $127000…
Can you help me to calculate adjusted net income, adjusted net income if FV of security B were 285,000, value of held for trading securities as of 12/31/2020 and assuming these securities at measured at FVOCI, calculate the value of these financial assets as of 12/31/2020 Problem: ABC Corporation buys and sells securities expecting to earn profits on short term differences in price. during 2020, ABC Corporation purchased the following held for trading securities. Security A: Cost- 195,000; FV at 12/31/2020- 225,000 Security B: Cost- 300,000; FV at 12/31/2020- 162,000 Security C: Cost- 678,000; FV at 12/31/2020- 660,000 Before any adjustments related to these securities, ABC Corporation had net income of 900,000
At December 31, 2018, Atlanta Company has an equity portfolio valued at $160,000. Its cost was $132,000. If the Securities Fair Value Adjustment has a debit balance of $8,000, prepare the journal entry required at December 31, 2018.
The following data are taken from the books of a dealer in securities: How mu ch is the outputtax using 12% rate? Share held as inventory Share held as investment Selling price 3,000,000 2,000,000 Acquisition cost 1,000,000 1,500,000 Oth er Income 200,000
Current Attempt in Progress At December 31, 2021, Ivanhoe Company has an equity portfolio valued at $166000. Its cost was $136000. If the Securities Fair Value Adjustment has a debit balance of $8200, which of the following journal entries is required at December 31, 2021? O Fair Value Adjustment 21800 Unrealized Holding Gain or Loss-Income 21800 O Unrealized Holding Gain or Loss-Income 21800 Fair Value Adjustment 21800 O Fair Value Adjustment 30000 Unrealized Holding Gain or Loss-Income 30000 O Unrealized Holding Gain or Loss-Income 30000 Fair Value Adjustment 30000 Last saved 1 minute ago Attemnts: 0 of 1 used Suhmit Anewer MacBook Air
Drew Corporation had the following investment portfolios at the end of its first year of operations: Year-End Security Classification Cost Fair Value A Held for Trading ₱18,000 ₱23,000 B Held for Trading ₱25,000 ₱27,000 The year-end adjusting entry would most likely include a ₱11,000 net debit to gain. ₱7,000 net credit to a fair value adjustment account. ₱7,000 net debit to held for trading securities. ₱5,000 net credit to loss.
At December 31, 2021, Blossom Company has an equity portfolio valued at $121000. Its cost was $106000. If the Securities Fair Value Adjustment has a debit balance of $6700, which of the following journal entries is required at December 31, 2021?
You are requested to reconstruct accounts of Angel Trading for analysis. The following data were available to you: Gross margin for 2019 amounts.……………. P800,000 Beginning balance of Merchandise Inventory.. 280,000 Long-term liabilities consisted of bonds Payable with interest rate of………. 15% Total Stockholders’ Equity , Dec 31, 2019 P 625,000 Gross margin ratio ...........................………… 40% Debt to equity ratio ........................…………. 0.6 : 1 Times interest is earned …………… ………. 8 Quick ratio ....................................…………… 1.5 :1 Ratio of operating expense to sales...………. 25% Inventory Turnover ………………………… 5 Total current assets would amount to a. P187,500 b. P387,500 c. P467,500 d. P427,500
The following trial balance relates to Selt.plc for the year ended 31 December 2021: Equity shares of £1 each Share Premium Retained earnings at 1 January 2021 Property at cost Depreciation on property at 1 January 2021 Plant and equipment at cost Depreciation on plant and equipment at 1 January 2021 Inventory at 1 January 2021 Trade receivables Cash and cash equivalents Trade payables 5% Loan repayable 2026 Revenue Purchases Distribution costs Administrative expenses Research and development expenditure Loan Interest paid Dividend paid Further notes: £'000 34,800 22,800 Required: A Statement of Profit or Loss for the year ended 31 December 2021. A Statement of Financial Position as at 31 December 2021 4,900 4,000 6,840 155,000 22,050 12,750 19,600 300 4,000 287,040 £'000 56,000 2,000 7,780 3,200 4,500 1,560 12,000 200,000 287,040 2) 1) Inventory was valued at £3,800,000 on 31 December 2021. (This valuation is before note (4) below is considered). Property includes land valued at…
Cost and fair value data for the trading debt securities of Ivanhoe Company at December 31, 2022, are $64,220 and $63,810, respectively. (a1) Show the financial statement presentation of the trading securities. Ivanhoe Company (Partial) Balance Sheet A

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