Solve the following.

12:53EOI k'. 812549.. I Done '3 El X 8. During 2020, Steven Company purchased marketable equity securities as short-term investment to be measured at fair value throu h other com rehensive income. The cost and market value on December 31, 2020 were as follows: Security Cost Market value 7 T J L A - 2,000 shares 450,000 600,000 B - 12,000 shares 1,860,000 1,700,000 The entity sold 2,000 shares of security A on April 5, 2020 for P250 per share and incurred P50,000 in brokerage commission and taxes. What amount should be reported as gain (loss: on sale of equity securities in 2021? a. 150,000 0. 100,000 c. 50,000 d. 0 10.During 2020, Jerome Company bought the shares of another entity as follows: June 1 20,000 shares @P100 2,000,000 December 1 30,000 shares @P120 3 600 000 5 600 000 The transactions for 2021 are: January 10 Received cash dividend at P10 per share. January 20 Received 20% stock dividend December 10 Sold 30,000 shares at P125 per share What is the gain on the sale of the investment assuming the FIFO approach? a. 1,150,000 b. 950,000 c. 150,000 d. 550,000 11. On January 1, 2021, Joshtin Company purchased 40% of the outstanding ordinary shares of an investee paying 2,560,000 when the carrying amount ofthe net assets of the investee equaled 5,000,000. The difference was attributed to equipment which had a carrying amount of 1,200,000 and a fair market value of 2,000,000, and to building with a carrying amount of 1,000,000 and a fair market value of 1,600,000. The remaining useful life of the equipment and building was 4 years and 12 years, respectively. During 2021, the investee reported net income of 1,600,000 and paid dividends of 1,000,000. What is the carrying amount ofthe investment in associate on December 31, 2021 ? a. 2,550,000 b. 2,700,000 c. 2,800,000 d. 3,050,000 12. On April 1, 2021, Joshtin Company purchased 30% of the outstanding ordinary shares of an associate for 4,000,000. On this date, the investee's net assets totaled 8,000,000 and Joshtin Company cannot attribute the excess of cost ofthe investment over the equity in the investee's net assets to any particular factor. The investee reported net income of 1,000,000 for 2021. What is the maximum amount which could be included in Joshtin Company's 2021 income before tax to reflect its equity earnings of the investee? a. 275,000 7 7 Full text: 31285 d. 405,000 BB'DAaZZE'l' Ill 0