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Q1: How much is the reportable amount of Investments - Trading Securities as of December 31, 2019? Q2: How much is the unrealized gain (loss) to be recohnized in P/L for 2020?

Q1: How much is the reportable amount of Investments - Trading Securities as of December 31, 2019? Q2: How much is the unrealized gain (loss) to be recohnized in P/L for 2020?

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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Q1: How much is the reportable amount of Investments - Trading Securities as of December 31, 2019? Q2: How much is the unrealized gain (loss) to be recohnized in P/L for 2020?
The ALIGNED Company held the following investments under its trading securities portfolio (FVPL): A- 1,000 ord. shares B- 2,200 ord. shares C - 800 bonds D- 1,500 bonds E- 500 pref shares Original Cost per security P 50.00 75.00 1,500.00 2,000.00 1,200.00 Jan. 1. 2019 P47.50 76.00 1,650.00 2,010.00 1,300.00 Fair Values per security Dec. 31, 2019 P 51.50 75 50 1,600 00 1,998.00 1,400.00 Dec. 31, 2020 P 51.25 74.90 1,575.00 1.975 00 1,100.00 The entity uses a valuation adjustment account to report these investments at fair value. 71. How much is the balance in the Valuation Adjustment account as of January 1. 2019?
Transcribed Image Text:The ALIGNED Company held the following investments under its trading securities portfolio (FVPL): A- 1,000 ord. shares B- 2,200 ord. shares C - 800 bonds D- 1,500 bonds E- 500 pref shares Original Cost per security P 50.00 75.00 1,500.00 2,000.00 1,200.00 Jan. 1. 2019 P47.50 76.00 1,650.00 2,010.00 1,300.00 Fair Values per security Dec. 31, 2019 P 51.50 75 50 1,600 00 1,998.00 1,400.00 Dec. 31, 2020 P 51.25 74.90 1,575.00 1.975 00 1,100.00 The entity uses a valuation adjustment account to report these investments at fair value. 71. How much is the balance in the Valuation Adjustment account as of January 1. 2019?
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