ABC Company purchased the following investments during 2020: Security A Security B Classification Trading Trading Cost...

 

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ABC Company purchased the following investments during 2020: Security A Security B Classification Trading Trading Cost 900,000 1,000,000 Market Value 12.31.20 1,000,000 1,600,000 On August 1, 2021, the shares of Security B were sold for 110% of its original cost. On December 31, 2021, the shares of Security A had a market value of P600,000. No other activity occurred during 2021 in relation to the trading security portfolio. What total loss on the trading securities should be reported in the income statement for 2021? ABC Company purchased the following investments during 2020: Security A Security B Classification Trading Trading Cost 900,000 1,000,000 Market Value 12.31.20 1,000,000 1,600,000 On August 1, 2021, the shares of Security B were sold for 110% of its original cost. On December 31, 2021, the shares of Security A had a market value of P600,000. No other activity occurred during 2021 in relation to the trading security portfolio. What total loss on the trading securities should be reported in the income statement for 2021?

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