Valix Finacc vol 1 Problem 9-6

Financial Accounting Volume 1 2008 Valix-Peralta
Chapter 1 Problem 9-6

December 31, 2008:

Trading securities                                                                                 500,000

        Unrealized gain - TS (2,500,000 – 2,000,000)                                                          500,000

Unrealized loss – AFS                                                                            100,000

        Available for sale securities                                                                                 100,000

December 31, 2009:

Unrealized loss – TS                                                                               300,000

         Trading securities (2,500,000 – 2,200,000)                                                 300,000

Available for sale securities - AFS                                                         200,000

         Unrealized loss – AFS                                                                                           100,000

         Unrealized gain – AFS                                                                                         100,000