Antonio Corporation had 30,000 ordinary shares of Tony Company which it acquired on January 1, 2020 for a total consideration of P1,800,000, excluding P30,000 directly attributable costs. The shares were acquired for trading purposes.

On December 31, 2020, the Tony Company shares were selling at P65 per share. Tony reported net income of P1,000,000 during 2020.

In July 2021, Antonio Corporation received a 20% bonus issue. Subsequently during the year, it sold 15,000 shares at P70 per share. The fair value of Tony ordinary share at December 31, 2021 was P72 per share.

Note: Input your answer without peso sign; with comma and no decimal e. g. 150,000.

18. What is the amount taken to profit or loss as a result of the change in market value on December 31, 2020?

19. At what amount will the investment be shown in the statement of financial position as of December 31, 2020?

20. What is the gain or loss on the sale of the investment?

21. What is the carrying value of the investment as of December 31, 2021?

22. Using the same data above, and assuming thar the investment is classified as at Fair

Value-OCI, at what amount will it be recorded initially?

23. Using the same data above, and assuming that the investment is classified as at Fair

Value-OCI, what is the amount taken to other comprehensive income on December 31,

2020?

24. Using the same data above, and assuming that the investment is classified as at Fair

Value-OCI, what is the gain or loss taken to profit or loss on the sale of the investment? -

25. Using the same data above, and assuming that the investment is classified as at Fair

Value-OCI, what is the carrying value of the investment as of December 31, 2021?

26. Using the same data above, and assuming that the investment is classified as at Fair

Value-OCI, what is the total amount taken to equity as of December 31, 2021?

27. Using the same data above, and assuming that the shares acquired is equivalent to 30%,

at what is the carrying value of the investment on the date of acquisition?

28. Using the same data above, and assuming that the shares acquired is equivalent to 30%,

what is the carrying value of the investment as of December 31, 2020?