Data regarding Stone Co.'s portfolio of equity securitiesaccounted for as fair value through other comprehensiveincome is as follows:Aggregate cost as of 12/31/2019Market value as of 12/31/2019Net realized gains during 2018P170,000P148,000P30,000At December 31, 2018, Stone Co. reported an unrealizedloss of P1,500 to reduce investments to market value.This was the first such adjustment made by Stone Co.on these types of securities. In its 2019 statement ofcomprehensive income, what amount of unrealized lossshould Stone Co. report?

The unrealized gain or loss is computed by deducting the cost (or beginning balance) of investment…

At December 31, 2018, Stone Co. reported an unrealized loss of P1,500 to reduce investments to market value. This was the first such adjustment made by Stone Co. on these types of securities. In its 2019 statement of comprehensive income, what amount of unrealized loss should Stone Co. report?

At December 31, 2018, Stone Co. reported an unrealized loss of P1,500 to reduce investments to market value. This was the first such adjustment made by Stone Co. on these types of securities. In its 2019 statement of comprehensive income, what amount of unrealized loss should Stone Co. report?

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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Question

Data regarding Stone Co.'s portfolio of equity securities
accounted for as fair value through other comprehensive
income is as follows:
Aggregate cost as of 12/31/2019
Market value as of 12/31/2019
Net realized gains during 2018
P170,000
P148,000
P30,000
At December 31, 2018, Stone Co. reported an unrealized
loss of P1,500 to reduce investments to market value.
This was the first such adjustment made by Stone Co.
on these types of securities. In its 2019 statement of
comprehensive income, what amount of unrealized loss
should Stone Co. report?

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