Revenues and operating (marketing and administrative)expenses for the year 2021 are P7,500,000 and P4,000,000 respectively. How much is the change in Retained Earnings for the year 2021 due to the equity securities indicate whether increase or decrease? Problem 15-6 (IAA)During 2020, the first year of operations, Beneath Companypurchased the following equity securities:CostMarket valueMarket valueDecember 31, 2020 December 81, 2021Security OneSecurity TwoSecurity ThreeSecurity Four2,200,000700,0001,600,000 -2,000,0001,400,0001,000,0001,500,0002,500,000900,0001,100,0001,600,0001,200,000Security One and Security Two are held for trading andSecurity Three and Security Four are measured as at fairvalue through other comprehensive income by election.During 2021, the entity sold one-half of Security One forP1,000,000, and one-half of Security Four for P1,300,000.

Explanation Retained Earning is the entire amount of profit of the company has leftover after paying…

Revenues and operating (marketing and administrative) expenses for the year 2021 are P7,500,000 and P4,000,000 respectively. How much is the change in Retained Earnings for the year 2021 due to the equity securities indicate whether increase or decrease

Revenues and operating (marketing and administrative) expenses for the year 2021 are P7,500,000 and P4,000,000 respectively. How much is the change in Retained Earnings for the year 2021 due to the equity securities indicate whether increase or decrease

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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