During 2019, Hanz Company purchased marketable equity securities for P650,000 to be held as trading securities. In 2019, the entity appropriately reported an unrealized loss of P30,000 in the income statement. There was no change during 2019 in the composition of the portfolio of trading securities. On December 31, 2020 the market value of the portfolio total P700,000. What amount of unrealized gain on these securities should be included in the 2020 income statement? *

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is