Reference no: EM133009482

The following information pertains to the equity securities of Saionra Co. as at end of the fisal year June 30, 2021. The securities purchased were held as trading securities.

Security                   No. of shares                     Cost/share                  Fair Value/share @ 6.30.21

BSA                          1,750                               200                             300

BSMA                      17,500                               170                               160

BSFM                        35,000                                 155                                 145

On August 18, 2021 17,500 BSFM shares were sold for 150 per share

Problem 1. What amount should be reported as gain or loss on sale of trading securities? (Indicate whether gain or loss after the amount)

Problem 2. What amount of unrealized gain or loss should be reported in the income statement for the year ended June 30, 2021? (Indicate whether gain or loss after the amount)