Question
49. Denmark Company purchased the following investments during 2020: Security L Security M Classification Trading Trading Cost 900,000 1,000,000 Market Value 12.31.20 1,000,000 1,600,000
49. Denmark Company purchased the following investments during 2020: Security L Security M Classification Trading Trading Cost 900,000 1,000,000 Market Value 12.31.20 1,000,000 1,600,000 On July 31, 2021, the shares of Security M for P1,100,000. On December 31, 2021, the shares of Security L had a market value of P600,000. No other activity occurred during 2021 in relation to the trading security portfolio. What total loss on the trading securities should be reported in the income statement for 2021?
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Managerial Accounting
Authors: Ray Garrison, Eric Noreen, Peter Brewer
16th edition
1259307417, 978-1260153132, 1260153134, 978-1259307416
