The net amount to be recognized in 2021 comprehensive income is The net amount to be recognized in 2022 comprehensive income isThe net unrealized gain/loss at December 31, 2022 in accumulated other comprehensive income in shareholders' equity is Pompey Inc. carries the following marketable equity securities on its books at December 31, 2021 and 2022. All securitieswere purchased during 2021.Trading Securities:Fair value 12/31/21P 260,000Fair value 12/31/22P 400,000CostAAA CompanyP 500,000BBB Company260,000700,000P1,460,000400,000400,000CcC CompanyTotal600.000500.000P1,260.000P1,300,000Financial Assets at Fair value through OCICostFair value 12/31/21Fair value 12/31/22DDD CompanyP4,100,000P3,600,000P3,600,0001.400.000P5,000,000EEE Company1.000.000P5,100,0001.200.000TotalP4,800.000

Trading securities won't be fair valued through OCI since they are held for the purpose of trading.…

Pompey Inc. carries the following marketable equity securities on its books at December 31, 2021 and 2022. All securities were purchased during 2021. Trading Securities: Cost P 500,000 Fair value 12/31/21 P 260,000 Fair value 12/31/22 P 400,000 AAA Company ВвB Сompany ccc Company 260,000 _700.000 P1,460.000 400,000 400,000 600.000 500.000 Total P1,260.000 P1.300.000 Financial Assets at Fair value through OCI Cost Fair value 12/31/21 Fair value 12/31/22 DDD Company EEE Company Total P4,100,000 P3,600,000 P3,600,000 1.000,000 P5.100.000 1,200.000 P4.800.000 1.400,000 P5.000.000

Pompey Inc. carries the following marketable equity securities on its books at December 31, 2021 and 2022. All securities were purchased during 2021. Trading Securities: Cost P 500,000 Fair value 12/31/21 P 260,000 Fair value 12/31/22 P 400,000 AAA Company ВвB Сompany ccc Company 260,000 _700.000 P1,460.000 400,000 400,000 600.000 500.000 Total P1,260.000 P1.300.000 Financial Assets at Fair value through OCI Cost Fair value 12/31/21 Fair value 12/31/22 DDD Company EEE Company Total P4,100,000 P3,600,000 P3,600,000 1.000,000 P5.100.000 1,200.000 P4.800.000 1.400,000 P5.000.000

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 7RE: Refer to the information in RE13-5. Assume that on December 31, 2019, the investment in Smith...

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During 2021, Anthony Company purchased debt securities as a long-term investment and classified them as trading. All securities were purchased at par value. Pertinent data are as follows: The net holding gain or loss included in Anthonys income statement for the year should be: a. 0 b. 3,000 gain c. 9,000 loss d. 12,000 loss
Refer to the information in RE13-5. Assume that on December 31, 2019, the investment in Smith Corporation bonds has a market value of 12,500. Prepare the year-end journal entry to record the unrealized gain or loss.
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