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Carrying amount of financial asset under previous classification...P200.00 Fair value on reclassification date (Jan. 1, 20x3) ....... P240,000 Requirements: Provide the entry (entries) on reclassification

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Carrying amount of financial asset under previous classification...P200.00 Fair value on reclassification date (Jan. 1, 20x3) ....... P240,000 Requirements: Provide the entry (entries) on reclassification date under the following scenarios: a. Amortized cost to FVPL b. FVPL to Amortized cost c. Amortized cost to FVOCI (mandatory) d. FVOCI (mandatory) to Amortized cost - the cumulative balance gain previously recognized in equity amounts to P10,000 e. FVPL to FVOCI (mandatory) f. FVOCI (mandatory) to FVPL - the cumulative balance of gain previously recognized in equity amounts to P10,000."XYZ Inc. changes its business model and determines the following information

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