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8 intermid acctng investments Question 8 1 pts An entity acquiredjan investment in equity instrument for P800,000 on 31 March 2020. The direct acquisition costs
8
intermid acctng investments
Question 8 1 pts An entity acquiredjan investment in equity instrument for P800,000 on 31 March 2020. The direct acquisition costs incurred were P140,000. On 31 December 2020 the fair value of the instrument was P1,100,000 and the transaction costs that would be incurred on sale were estimated at P120,000. If the investment is designated as FA@FVTOCI, what gain would be recognized in the financial statements for the year ended 31 December 2020? OP40.000 Nil P160.000 P420.000Step by Step Solution
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Fundamental Accounting Principles
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
20th Edition
1259157148, 78110874, 9780077616212, 978-1259157141, 77616219, 978-0078110870
