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What is axel net income after making any necessary trading

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Axel Company buys and sells securities expecting to earn profits on short-term differences in price. During 2016, Axel Company purchased the following trading securities:

Security               Cost               Fair Value (Dec. 31, 2016)

A                       P195,000                P225,000

B                          300,000                    162,000

C                           660,000                     678,000

Before any adjustments related to these trading securities, Axel Company had net income of P900,000.

Question 1: What is Axel's net income after making any necessary trading security adjustments?

Net income before trading security adjustment

Unrealized loss (P1,155,000-P1,065,000) Net income, as adjusted Security Cost Fair Value (Dec. 31, 2016) A B C Total

Reference no: EM132564049

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