29. M Company began operations on January 1, 2013. The following information pertains to the portfolio of equity securities classified as held for trading on December 31, 2013: Aggregate cost Aggregate market value Aggregate lower of cost or market value applied to each security 360,000 320,000 300,000 What amount should be reported as unrealized loss in the income statement for 2013? a. 40,000 b. 60,000 c. 20,000 d. 0

29. M Company began operations on January 1, 2013. The following information pertains to the portfolio of equity securities classified as held for trading on December 31, 2013: Aggregate cost Aggregate market value Aggregate lower of cost or market value applied to each security 360,000 320,000 300,000 What amount should be reported as unrealized loss in the income statement for 2013? a. 40,000 b. 60,000 c. 20,000 d. 0

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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