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Company acquired equity securities during the year 2018 and designated as fair value to other comprehensive income. An analysis of the investments on December 31, 2020 showed the following: Securities                                Cost                  Market A                                    P 1,500,000             PI,400,000 B                                        2,200,000             2,000,000 C                                       3,000,000              2,900,000 D                                       3,800,000             3,600.000 Total                               10,500,000              9,900,000 If the Company's income tax rate is 35%, what am

Company acquired equity securities during the year 2018 and designated as fair value to other comprehensive income. An analysis of the investments on December 31, 2020 showed the following: Securities                                Cost                  Market A                                    P 1,500,000             PI,400,000 B                                        2,200,000             2,000,000 C                                       3,000,000              2,900,000 D                                       3,800,000             3,600.000 Total                               10,500,000              9,900,000 If the Company's income tax rate is 35%, what am

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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Glenn Company acquired equity securities during the year 2018 and designated as fair value to other comprehensive income. An analysis of the investments on December 31, 2020 showed the following:

Securities                                Cost                  Market
A                                    P 1,500,000             PI,400,000
B                                        2,200,000             2,000,000
C                                       3,000,000              2,900,000
D                                       3,800,000             3,600.000
Total                               10,500,000              9,900,000

If the Company's income tax rate is 35%, what amount of unrealized loss should be reported in Glenn's December 31, 2020 shareholders' equity?
 
a. none
b. 200,000
c. 390,000
d. 600,000
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