Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. On January 1, 20x1, Amara inc. purchased the following marketable securities to be held for trading, transaction costs are negligible. Information of fv are

image text in transcribed

1. On January 1, 20x1, Amara inc. purchased the following marketable securities to be held for trading, transaction costs are negligible. Information of fv are as follows: A co preference shares B co. ordinary shares C co. bonds totals Costs 50,000 40,000 30,000 120,000 FV Dec 31, 20x1 40,000 15,000 35,000 90,000 FV Dec 31, 20x2 55,000 20,000 30,000 105,000 On Feb. 2, 20x3, all a co preference shares was sold for p40,000, net of transaction cost 1. how much is the amount recognized as investment in securities futpl on december 31, 20x2? 2. how much is the realized or unrealized gain/loss to be recognized on december 31, 20x2? 3. how much is the realized or unrealized gain/loss on disposal on february 2, 20x3? 4. where do you recognized the gain/loss, in the p/l statement or the bs

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accountability Ethics And Sustainability Of Organizations

Authors: Sandro Brunelli, Emiliano Di Carlo

3rd Edition

3030311929, 9783030311926

More Books

Students also viewed these Accounting questions