Dickinson Company acquired the following portfolio of trading securities during 2020 and reported the following balances at
Question:
Dickinson Company acquired the following portfolio of trading securities during 2020 and reported the following balances at December 31, 2020. No sales occurred during 2020. All declines are considered to be temporary:
Security Cost 12/31/20 Market value
BPI P 700,000 P 720,000
BDO 850,000 800,000
PSB 1,050,000 1,280,000
What is the carrying value of the securities on December 31, 2020 on Dickinson’s balance sheet?
Intermediate Accounting
ISBN: 978-0470616314
IFRS edition volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield