10. White Wolf Company purchased the following investments during 2010: Market Value Dec. 31, 2010 Classification Security A Trading Trading Cost P 00,000 1,000 000 P1,000,000 1.800.000 Security B On July 31, 2020, the entity sold half of the shares of Security B for P850,000. On December 31, 2020, the shares of Security A and Security B had a market value of PO00,000 and PO00,000, respectively. No other activity occurred during 2020 in relation to the trading security portfolio. What is the net gain or (loss) to be presented in the Income Statement at year-end of 2020? 250,000 A. В. (250,000) C. 300,000 D. (300,000 11. be presented in the Statement of Financial Position at year-end of 2020? A. В. C. D. Refer to the information in question No. 10. What is the balance of Trading Securities to 1,500,000 1.000,000 1,600,000 1,300,000
10. White Wolf Company purchased the following investments during 2010: Market Value Dec. 31, 2010 Classification Security A Trading Trading Cost P 00,000 1,000 000 P1,000,000 1.800.000 Security B On July 31, 2020, the entity sold half of the shares of Security B for P850,000. On December 31, 2020, the shares of Security A and Security B had a market value of PO00,000 and PO00,000, respectively. No other activity occurred during 2020 in relation to the trading security portfolio. What is the net gain or (loss) to be presented in the Income Statement at year-end of 2020? 250,000 A. В. (250,000) C. 300,000 D. (300,000 11. be presented in the Statement of Financial Position at year-end of 2020? A. В. C. D. Refer to the information in question No. 10. What is the balance of Trading Securities to 1,500,000 1.000,000 1,600,000 1,300,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:10.
White Wolf Company purchased the following investments during 2019:
Cost
P 900,000
1000.000
Classification
Security A
Security B
Trading
Trading
Market Value Dec. 31, 2019
P1,000,000
1.600,000
On July 31, 2020, the entity sold half of the shares of Security B for P850,000. On
December 31, 2020, the shares of Security A and Security B had a market value of
P600,000 and P900,000, respectively. No other activity occurred during 2020 in relation
to the trading security portfolio.
What is the net gain or (loss) to be presented in the Income Statement at year-end of
2020?
A.
250,000
(250,000)
300,000
(300,000
В.
C.
D.
11.
Refer to the information in question No. 10. What is the balance of Trading Securities to
be presented in the Statement of Financial Position at year-end of 2020?
A.
В.
C.
D.
1.500,000
1.900,000
1,800,000
1,300,000
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