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AUDIT OF MARKETABLE SECURITIES – TRADING  The company’s equity portfolio as of year-end showed the following:  Total Market Value   Shares Cost per Share  SCC 7,000 108,500 P16.00   PHA 10,000 195,000 19.75   PAL 2,400 49,200 24.00   EMP 2,000 67,000 26.00   DMC 8,000 31,600 1.20   UB 1,600 50,880 27.50  P502,180 The securities are listed in the stock exchange. The company follows the fair value  accounting.  Trading securities  A. P403,640 B. P502,180 C. P491,240 D. P472,700

AUDIT OF MARKETABLE SECURITIES – TRADING  The company’s equity portfolio as of year-end showed the following:  Total Market Value   Shares Cost per Share  SCC 7,000 108,500 P16.00   PHA 10,000 195,000 19.75   PAL 2,400 49,200 24.00   EMP 2,000 67,000 26.00   DMC 8,000 31,600 1.20   UB 1,600 50,880 27.50  P502,180 The securities are listed in the stock exchange. The company follows the fair value  accounting.  Trading securities  A. P403,640 B. P502,180 C. P491,240 D. P472,700

FINANCIAL ACCOUNTING
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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 AUDIT OF MARKETABLE SECURITIES – TRADING 


The company’s equity portfolio as of year-end showed the following: 


Total Market Value 
 Shares Cost per Share
 SCC 7,000 108,500 P16.00 
 PHA 10,000 195,000 19.75 
 PAL 2,400 49,200 24.00 
 EMP 2,000 67,000 26.00 
 DMC 8,000 31,600 1.20 
 UB 1,600 50,880 27.50 
P502,180


The securities are listed in the stock exchange. The company follows the fair value 
accounting.

 Trading securities 
A. P403,640 B. P502,180 C. P491,240 D. P472,700

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