Reference no: EM132948042
Question - During 2019, Dynamite Company purchased marketable equity securities as short-term investment to be measured at fair value through other comprehensive income. The cost and market value on December 31, 2019 were:
Security Cost Marketable value
A 1,000 shares 300,000 350,000
B 10,000 shares 1,700,000 1,550,000
C 20,000 shares 3,150,000 2,950,000
The entity sold 10,000 shares of B on January 5, 2020 for P1,450,000.
What total amount should be charged to retained earnings as a result of the sale of equity securities in 2020?
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