Apollo Corp. has the following investment which were held throughout 2021-2022: Fair Value 12/31/21 Cost Trading...
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Apollo Corp. has the following investment which were held throughout 2021-2022: Fair Value 12/31/21 Cost Trading P300,000 P400,000 What amount of unrealized gain or loss would Apollo Corp. report in its income statement for the year ended December 31, 2022 related to its investments? O P140,000 unrealized gain. P20,000 unrealized loss. P20,000 unrealized gain. OP80,000 unrealized gain. 12/31/22 P380,000 Apollo Corp. has the following investment which were held throughout 2021-2022: Fair Value 12/31/21 Cost Trading P300,000 P400,000 What amount of unrealized gain or loss would Apollo Corp. report in its income statement for the year ended December 31, 2022 related to its investments? O P140,000 unrealized gain. P20,000 unrealized loss. P20,000 unrealized gain. OP80,000 unrealized gain. 12/31/22 P380,000
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Answer rating: 100% (QA)
Answer iIn case of Trading Security Fair value adjustments are made at the end of each year These ad... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
Posted Date:
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