User Account

All Pages

Compute the gain or loss for income statement

Assignment Help Financial Accounting
Reference no: EM132940442

Question - Gold Company purchased marketable equity security to be held as "trading" for P5,000,000, 000 last January 1, 2019. The company paid transaction cost amounting to P200,000.

The securities had a market value of P5,500,000 on December 31, 2019 and the transaction cost that would be incurred on sale is estimated at P100,000. No securities were sold during 2019.

Compute the gain or loss for 2019 income statement?

Reference no: EM132940442

Questions Cloud

What is an operational plan : What is an operational plan? Why is an operational needed in an organisation?
Critically discuss at least five major trend : Critically discuss at least five major trend/changes in industrial and employment relations that are taking place in the South Pacific Island countries
Analyze the current industrial environment : Analyze the current industrial environment your chosen industry segment to include an analysis of the following:
Explain norris-laguardia act of 1932 : What is a yellow dog contract as described in the Norris-LaGuardia Act of 1932? What was the purpose of the Wagner act of 1935?
Compute the gain or loss for income statement : The securities had a market value of P5,500,000 on December 31, 2019. Compute the gain or loss for 2019 income statement
Develop a three-point scoring guide : Develop a three-point scoring guide (i.e. example of a poor answer, a typical answer, and a good answer) for each interview question you developed
Assignment on internal vs external recruiting : What are the tradeoffs of each approach? Include in your discussion an example of a situation in which each of these approaches might be particularly effective.
Determine the cost of office building : The closing statement indicated that the land value was P1,500,000 and the building salvage value was P300,000. Determine the cost of office building
Discuss risk assurance and corporate governance : Find two articles that discuss risk assurance and corporate governance and provide insight into how risk assurance contributes to corporate governance.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd