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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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?
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