User Account

All Pages

Compute the unrealized gain or loss on these securities

Assignment Help Financial Accounting
Reference no: EM132787407

Question - On January 1, 2015, Loi Company purchased marketable equity securities to be held as "trading" for P7,500,000. Loi also paid commission taxes and other transaction costs amounting to P300,000. The securities had a market value of P8,250,000 on December 31, 2015 and the transaction costs that would be incurred on sale are estimated at P150,000. No securities were sold during 2015.

Required - Compute the unrealized gain or (loss) on these securities that should be reported in the 2015 income statement.

Reference no: EM132787407

Questions Cloud

Explain the significance of the topic to nursing practice : PICOT is an acronym used to help develop clinical research questions and guide you in your search for evidence:P = Patient populationI = Intervention or issue.
What interest rate would a corporate bond have to offer : If a city of Austin bond pays 9.60 percent interest, what interest rate would a corporate bond have to offer for John to be indifferent between the two bonds?
What is the amount to be paid for Goodwill : The cumulative net earnings for the past five years amounted to P11,000,000 including expropriation gain of P1,000,000. What amount to be paid for Goodwill
Provide the accounting entries to record the sale : Provide the accounting entries to record the sale, and the subsequent return of the assets, assuming that the returns occur in accordance with expectations.
Compute the unrealized gain or loss on these securities : On January, Loi Company purchased marketable equity securities to be held as "trading" for P7,500,000. Compute unrealized gain or loss on these securities
Calculate the cash collections for the month of December : B Side Productions is a manufacturer of cheap scooters. 30% of all sales are cash sales with the remaining 70% being on credit. Calculate the cash collections
What are the gift tax consequences for amanda : Instead, Peter deposits the check in his bank on January 2, 2016. The check clears Amanda's bank on January 5, 2016. What are the gift tax consequences?
How might researchers best deal with sampling error : Researchers distinguish between two factors [related to sampling] that can reduce the validity of a study, sampling error, and sampling bias.
Determine total payroll tax expense for baltimore company : Barbara is an employee of Baltimore Company. Determine the total payroll tax expense for Baltimore Company as related to Barbara's earnings.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd