22. During 2022, Haggard Company purchased marketable equity securities for P 1,850,000 to be held as trading investments. In 2022, the entity appropriately reported an unrealized loss of P 200,000 in the income statement. There was no change during 2022 in the composition of the portfolio of trading securities. Pertinent data on December 31, 2023 are: Security A B с Net Increase Cost 600,000 450,000 800,000 Market value 700,000 400.000 900,000 Inc (Dec) 100,000 (50,000) 100,000 150,000 What amount of unrealized gain on these securities should be included in the 2021 income statement?
22. During 2022, Haggard Company purchased marketable equity securities for P 1,850,000 to be held as trading investments. In 2022, the entity appropriately reported an unrealized loss of P 200,000 in the income statement. There was no change during 2022 in the composition of the portfolio of trading securities. Pertinent data on December 31, 2023 are: Security A B с Net Increase Cost 600,000 450,000 800,000 Market value 700,000 400.000 900,000 Inc (Dec) 100,000 (50,000) 100,000 150,000 What amount of unrealized gain on these securities should be included in the 2021 income statement?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:22. During 2022, Haggard Company purchased marketable equity securities for P 1,850,000 to be held as trading investments.
In 2022, the entity appropriately reported an unrealized loss of P 200,000 in the income statement.
There was no change during 2022 in the composition of the portfolio of trading securities. Pertinent data on December
31, 2023 are:
Security
A
B
C
Net Increase
Cost
600,000
450,000
800,000
Market value
700,000
400,000
900,000
Inc (Dec)
100,000
(50,000)
100,000
150,000
What amount of unrealized gain on these securities should be included in the 2021 income statement?
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