PAPASAKAYA Corporation began operations on January 11, 2020. At December 31, 2020, PAPASAKAYA had the following investment portfolios of equity securities: In its 2020 income statement, what amount should PAPASAKAYA report as unrealized gain (loss) on equity securities?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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PAPASAKAYA Corporation began operations on January 11, 2020. At December 31, 2020, PAPASAKAYA had the following investment portfolios of equity securities: In its 2020 income statement, what amount should PAPASAKAYA report as unrealized gain (loss) on equity securities?

TRADING SECURITIES
Aggregate cost
Aggregate portfolio market value
Aggregate lower of cost or market applied to each security in the
portfolio
180,000
160,000
152,000
EQUITY SECURITIES MEASURED AT FAIR VALUE THRU
OCI
275,000
Aggregate cost
Aggregate portfolio market value
Aggregate lower of cost or market applied to each security in the
portfolio
225,000
210,000
Transcribed Image Text:TRADING SECURITIES Aggregate cost Aggregate portfolio market value Aggregate lower of cost or market applied to each security in the portfolio 180,000 160,000 152,000 EQUITY SECURITIES MEASURED AT FAIR VALUE THRU OCI 275,000 Aggregate cost Aggregate portfolio market value Aggregate lower of cost or market applied to each security in the portfolio 225,000 210,000
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