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pls answer with solution D On January 1, 2017, Virginia Co. acquired 5-year bonds with a total face value of P5,000,000 for P5,379,079. The bonds
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D On January 1, 2017, Virginia Co. acquired 5-year bonds with a total face value of P5,000,000 for P5,379,079. The bonds carry an interest of 12% per year payable every December 31. The bonds are to be appropriately classified as held for trading. On December 31, 2017, the bonds are quoted at 104% On January 3, 2018, the 1/2 of the bonds were sold at 105. On November 1, 2018, Virginia Co. changed its business model. It was determined that the remaining investment in bonds should be reclassified to financial asset measured at amortized cost on the reclassification date. On December 31, 2018, the bonds are quoted at 102. D Question 8 1 pts How much is the interest income for 2017? P600,000 P645.489 NI P537.908 Question 9 1 pts How much is the unrealized gain (loss) in 2017 to be recognized in the profit or loss? OP200,000 OP(379,079) P[179,079) NI D Question 10 1 pts How much is the realized gain (loss) on sale in 2018 to be recognized in the profit or loss? P(64.5401 P25.000 P|33.494) . Nil Question 11 1 pts How much is the interest income in 2018? P531,699 OP265,849 P300,000 O P600,000 Question 12 1 pts How much is the gain (loss) on reclassification to be recognized in the profit or loss on January 1, 2019? P50,000 P100,000 Nil P24.343 Step by Step Solution
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