25. On January 1, 2023, Rachel Company acquired marketable securities classified as trading securities for P9,500,000. The entity also paid commission, taxes, and other transaction costs amounting to P350,000. The securities have a fair value of P9,800,000 on December 31, 2023. No securities were sold during the year. The transaction costs that would be incurred on the disposal of the investment are estimated at P100,000. What amount of unrealized gain or loss on these securities should be reported in the income statement for the current year? a. 50,000 unrealized loss b. 150,000 unrealized loss 200,000 unrealized gain C. 300,000 unrealized gain

25. On January 1, 2023, Rachel Company acquired marketable securities classified as trading securities for P9,500,000. The entity also paid commission, taxes, and other transaction costs amounting to P350,000. The securities have a fair value of P9,800,000 on December 31, 2023. No securities were sold during the year. The transaction costs that would be incurred on the disposal of the investment are estimated at P100,000. What amount of unrealized gain or loss on these securities should be reported in the income statement for the current year? a. 50,000 unrealized loss b. 150,000 unrealized loss 200,000 unrealized gain C. 300,000 unrealized gain

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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