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During 2017, ABC Company purchased marketable equity securities as investment. These securities are classified as FVOIC. The cost and market value at December 31, 2017, were as follows:
Security Cost Fair Value
A-100 shares 2,800 3,400
B-1,000 shares 17,000 15,300
C-2,000 shares 31,500 29,500
Question 1: ABC sold 1,000 shares of Company B stock on January 31, 2018 for P15 per share, incurring P1,500 brokerage commission and taxes. On the sale, Rex should report a realized loss of
Option 1: P3,500
Option 2: P1,800
Option 3: Answer not given
Option 4: P2,000
Option 5: P300
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