Splendid Company purchased equity securities during 2020 to be held as investments. The cost and market value of the investmentsare:CostMarketDecember 31, 2020Trading securities2,000,0002,500,000Securities not held for trading3,000,0002,900,000December 31, 2021Trading securities2.000,0002,200,000Securities not held for trading3,000,0002,300,000The securities not held for trading are measured at fair value through ather comprehensive income by irrevocable election.Requirement: Complete the table below. Wite zero (0) #R is not applicable.December 31, 2020December 31, 2021Statement of Financial PositionInvestments - FVPLInvestments - FVOCIStatement of IncomeUnrealized gainUnrealized lossRealized gainRealized lossStatement of Other Comprehensive IncomeUnrealized gainUnrealized lossStatement of Changes in EquityOther Comprehensive IncomeRetained earnings

Splendid Company purchased equity securties during 2020 to be heid as investmenta. The cost and market value of the investments are: Cost Market December 31, 2020 Trading securities 2,000,000 2,500,000 Securities not held for trading 3,000,000 2.900,000 December 31, 2021 Trading securities 2,000,000 2,200,000 Securities not held for trading 3,000,000 2.300,000 The securities not held for trading are measured at fair value through other comprehenaive income by irevocable election. Requirement: Complete the table below. Wite zero (0) nis not applicable. December 31, 2020 December 31, 2021 Statement of Financial Position Investments -FVPL Investments - FVOCI Statement of Income Unrealized gain Unrealized loss Realized gain Realized loss Statement of Other Comprehensive Income Unrealized gain Unrealized loss Statement of Changes in Equity Other Comprehensive Income Retained earnings

Splendid Company purchased equity securties during 2020 to be heid as investmenta. The cost and market value of the investments are: Cost Market December 31, 2020 Trading securities 2,000,000 2,500,000 Securities not held for trading 3,000,000 2.900,000 December 31, 2021 Trading securities 2,000,000 2,200,000 Securities not held for trading 3,000,000 2.300,000 The securities not held for trading are measured at fair value through other comprehenaive income by irevocable election. Requirement: Complete the table below. Wite zero (0) nis not applicable. December 31, 2020 December 31, 2021 Statement of Financial Position Investments -FVPL Investments - FVOCI Statement of Income Unrealized gain Unrealized loss Realized gain Realized loss Statement of Other Comprehensive Income Unrealized gain Unrealized loss Statement of Changes in Equity Other Comprehensive Income Retained earnings

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...

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Lopez Company purchased equity securities during 2020 to be held as Investment. The cost and Market Value of the investments are: December 31,2020. Cost. Market Trading Securities. 2,000,000. 2,500,000 Securities not held for trading. 3,000,000. 2,300,000 December 31,2021 Cost Market Trading Securities. 1,000,000 1,100,000 Securities not held for trading. 1,500,000. 1,450,000 On June 30 2021, half of the trading Securities were sold for 1,500,000 and securities not held for trading were sold for 1,100,000. The securities not held for trading are measured at fair value through other comprehensive income by election. REQUIRED: Prepare the Journal entries for 2020 and 2021
Splendid Company purchased equity securities during 2020 to be held as investments. The cost and market value of the Problem 15-3 (IAA) investments are: Probl Aborig statem December 31, 2020 Cost Trading securities Securities not held for trading Market 2,000,000 3,000,000 2,500,000 2,900,000 December 31, 2021 Noncu Trading securities Securities not held for trading Financ Marke 2,000,000 3,000,000 2,200,000 Marke 2,300,000 The securities not held for trading are measured at fair valun through other comprehensive income by irrevocable election Other Unres Required: An & follow Prepare journal entries for 2020 and 2021.
Splendid Company purchased equity securities during 2020 to be held as investments. The cost and market value of the investments are Cost Market December 31, 2000 Trading securities 2.000.000 2.500.000 Securities not held for trading 3.000.000 2.500,000 December 31, 2021 Trading securities 2.000.000 2.200,000 Securities not held for trading 3,000.000 2.300,000 The securities not held for trading are measured at fair value through other comprehensive income by irevocable election. Requirement Complete the table below. Wrte zero (0) it is not applicable. December 31, 2019 December 31, 2020 December 31. 2021 Statement of Financial Position Investments - FVPL Investments - FVOCI Statement of Changes in Equity Cther Comprehensive Income Retained earnings Statement of Comprehensive Income Net income - Unrealized gainloss) Net income Realized gainloss) Cther Comprehensive income- Unrealized gainloss)
At December 31, 2018, Hull-Meyers Corp. had the following investments that were purchased during 2018, itsfirst year of operations:Cost Fair ValueTrading Securities:Security A $ 900,000 $ 910,000Security B 105,000 100,000Totals $ 1,005,000 $ 1,010,000 Securities Available-for-Sale:Security C $ 700,000 $ 780,000Security D 900,000 915,000Totals $ 1,600,000 $ 1,695,000Securities to Be Held-to-Maturity:Security E $ 490,000 $ 500,000Security F 615,000 610,000Totals $ 1,105,000 $ 1,110,000No investments were sold during 2018. All securities except Security D and Security F are considered shortterminvestments. None of the fair value changes is considered permanent.Required:Determine the following amounts at December 31, 2018.1. Investments reported as current assets2. Investments reported as noncurrent assets3. Unrealized gain (or loss) component of income before taxes4. Unrealized gain (or loss) component of accumulated other comprehensive income in shareholders’ equity
Can you help me to calculate adjusted net income, adjusted net income if FV of security B were 285,000, value of held for trading securities as of 12/31/2020 and assuming these securities at measured at FVOCI, calculate the value of these financial assets as of 12/31/2020 Problem: ABC Corporation buys and sells securities expecting to earn profits on short term differences in price. during 2020, ABC Corporation purchased the following held for trading securities. Security A: Cost- 195,000; FV at 12/31/2020- 225,000 Security B: Cost- 300,000; FV at 12/31/2020- 162,000 Security C: Cost- 678,000; FV at 12/31/2020- 660,000 Before any adjustments related to these securities, ABC Corporation had net income of 900,000
2. During 2020, Earl Company purchased debt securities as a long-term investment and classified them as trading. All securities were purchased at par value. The following information is presented: Market value at Security 12/20/2020 cost $ 30,000 $ 28,000 40,000 83,000 $151,000 B. 50,000 100,000 Totals $180,000 The net holding gain or loss included in Earl's income statement for the year should be?
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Glenn Company acquired equity securities during the year 2018 and designated as fair value to other comprehensive income. An analysis of the investments on December 31, 2020 showed the following:Securities Cost MarketA P 1,500,000 PI,400,000B 2,200,000 2,000,000C 3,000,000 2,900,000D 3,800,000 3,600.000Total 10,500,000 9,900,000If the Company's income tax rate is 35%, what amount of unrealized loss should be reported in Glenn's December 31, 2020 shareholders' equity? a. none b. 200,000 c. 390,000 d. 600,000
During 2021, Lavida Loca Company purchased trading securities with the following cost and market value on December 31, 2021. Cost Market value A 300,000 400,000 B 1,500,000 1,700,000 C 3,800,000 3,900,000 The entity sold Investment C on January 10, 2022 for P 4,000,000 What is the unrealized gain or loss should be reported in the income statement for 2021? a. 100,000 gain b, 100,000 loss c. 400,000 gain d. 400,000 loss
In 2019, Blackpink Company purchased a marketable equity securities for P2,000,000 and held as trading investment. In the year ending 2019, Christian recognized unrealized gain of 300,000.Below is the composition of the composition of the portfolio of trading securities in December 2020. Security Cost Market Value A 400,000 700,000 B 850,000 1,000,000 C 750,000 500,000 What amount of unrealized loss should be reported by Jungkook Company in the year 2020?
1 During 2020, LOVE Company purchased marketable equity securities for P1,850,000 to be held as trading investments. In 2020, the entity appropriately reported an unrealized loss of 200,000 in the income statement. There was no change during 2021 in the composition of the portfolio of trading securities. Pertinent data on December 31, 2021 are: Security Cost Market A 600,000 700,000 B 450,000 400,000 C 800,000 900,000o What amount of unrealized gain on these securities should be included in the 2021 income statement? a. 350,000 b. 150,000 c. 550,000 d. 0
In 2019, Mickey Mouse Company purchased trading securities for P2,000,000. In the year ending 2019, Mickey Mouse recognized unrealized gain of 300,000.Below is the composition of the composition of the portfolio of trading securities in December 2020. security cost market a 400,000 700,000 b 850,000 1,000,000 c 750,000 500,000 What amount of unrealized gain or loss should be reported by Mickey Mouse Company in the year 2020?