For numbers 29 to 31 LABADA CO.'s portfolio of trading securities includes the following on December 31, 2019: Cost Fair Value 15,000 ordinary shares of Camias Co. P1,431,000 P1,251,000 30,000 ordinary shares of Ganda Co. 1,638,000 1,710,000 P3,069,000 P2,961,000 All of the above securities have been purchased in 2019. In 2020, Labada Co. completed the following securities transactions: Mar. 1 Sold 15,000 shares of Camias Co. ordinary shares at P93 April 1 Bought 1,800 ordinary shares of Waston, Inc. at P135 plus commission, taxes, and other transaction costs of P4,950. The Labada Co. portfolio of trading securities appeared as follows on December 31, 2020: Cost Fair Value 30,000 ordinary shares of Ganda Co. P1,638,000 P1,740,000 ! 1,800 ordinary shares of Waston, Inc. 247,950 225,000 ? P1.885,950 P1.965.000 ' Net of P19,500 estimated transaction costs that would be incurred on the sale of the securities. * Net of P4,500 estimated transaction costs that would be incurred on the sale of the securities.

For numbers 29 to 31 LABADA CO.'s portfolio of trading securities includes the following on December 31, 2019: Cost Fair Value 15,000 ordinary shares of Camias Co. P1,431,000 P1,251,000 30,000 ordinary shares of Ganda Co. 1,638,000 1,710,000 P3,069,000 P2,961,000 All of the above securities have been purchased in 2019. In 2020, Labada Co. completed the following securities transactions: Mar. 1 Sold 15,000 shares of Camias Co. ordinary shares at P93 April 1 Bought 1,800 ordinary shares of Waston, Inc. at P135 plus commission, taxes, and other transaction costs of P4,950. The Labada Co. portfolio of trading securities appeared as follows on December 31, 2020: Cost Fair Value 30,000 ordinary shares of Ganda Co. P1,638,000 P1,740,000 ! 1,800 ordinary shares of Waston, Inc. 247,950 225,000 ? P1.885,950 P1.965.000 ' Net of P19,500 estimated transaction costs that would be incurred on the sale of the securities. * Net of P4,500 estimated transaction costs that would be incurred on the sale of the securities.

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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