AUDIT OF MARKETABLE SECURITIES – TRADING The company’s equity portfolio as of year-end showed the following: Total Market Value Shares Cost per Share SCC 7,000 108,500 P16.00 PHA 10,000 195,000 19.75 PAL 2,400 49,200 24.00 EMP 2,000 67,000 26.00 DMC 8,000 31,600 1.20 UB 1,600 50,880 27.50 P502,180 The securities are listed in the stock exchange. The company follows the fair value accounting. Trading securities A. P403,640 B. P502,180 C. P491,240 D. P472,700
AUDIT OF MARKETABLE SECURITIES – TRADING The company’s equity portfolio as of year-end showed the following: Total Market Value Shares Cost per Share SCC 7,000 108,500 P16.00 PHA 10,000 195,000 19.75 PAL 2,400 49,200 24.00 EMP 2,000 67,000 26.00 DMC 8,000 31,600 1.20 UB 1,600 50,880 27.50 P502,180 The securities are listed in the stock exchange. The company follows the fair value accounting. Trading securities A. P403,640 B. P502,180 C. P491,240 D. P472,700
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter11: Stockholders' Equity
Section: Chapter Questions
Problem 11.12MCP
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AUDIT OF MARKETABLE SECURITIES – TRADING
The company’s equity portfolio as of year-end showed the following:
Total Market Value
Shares Cost per Share
SCC 7,000 108,500 P16.00
PHA 10,000 195,000 19.75
PAL 2,400 49,200 24.00
EMP 2,000 67,000 26.00
DMC 8,000 31,600 1.20
UB 1,600 50,880 27.50
P502,180
The securities are listed in the stock exchange. The company follows the fair value
accounting.
Trading securities
A. P403,640 B. P502,180 C. P491,240 D. P472,700
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