On December 31, 2018, Nestle's equity investment portfolio consisted of the following.

Investment Quantity Cost Fair Value

Dwarfy Company 500 shares P24,000 P18,000

Alabang Corp. 2,000 shares 216,000 246,000

Totals P240,000 P264,000

8. What should be reported as loss on sale of trading securities in 2018?

a. 60,300

b. 32,400

c. 24,300

d. 68,400

9. What amount of unrealized gain or loss should be reported in the income statement for the year ended December

31, 2018?

a. P180,000 unrealized gain

b. P180,000 unrealized loss

c. P24,000 unrealized gain

d. P24,000 unrealized loss

10. In the December 31, 2018, statement of financial position, what should be reported as carrying amount of trading

securities?

a. 240,000

b. 234,000

c. 264,000

d. 270,000