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 Cost Market value Inc (Dec) A 600,000 700,000 100,000 B 450,000 400,000 (50,000) C 800,000 900,000 100,000 Net Increase 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 Cost Market value Inc (Dec) A 600,000 700,000 100,000 B 450,000 400,000 (50,000) C 800,000 900,000 100,000 Net Increase 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
Problem 1Q
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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 |
Cost |
Market value |
Inc (Dec) |
|
A |
600,000 |
700,000 |
100,000 |
|
B |
450,000 |
400,000 |
(50,000) |
|
C |
800,000 |
900,000 |
100,000 |
|
Net Increase |
|
|
150,000 |
What amount of unrealized gain on these securities should be included in the 2021 income statement?
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