Question
Problem 2 Prepare the journal entries for the following transactions: A. Investments held at fair value through profit and loss 6/2/17 Acquired bonds from Akela
Problem 2
Prepare the journal entries for the following transactions:
A. Investments held at fair value through profit and loss
6/2/17 Acquired bonds from Akela Corporation at P500,000.
12/31/17 Fair value of the bonds quoted at 120.
12/31/18 Fair value of the bonds quoted at 110.
B. Investments held at fair value through other comprehensive income:
6/2/17 Acquired bonds from Akela Corporation at P500,000.
12/31/17 Fair value of the bonds quoted at 120.
12/31/18 Fair value of the bonds quoted at 110.
C. Investments held at fair value through other comprehensive income:
6/2/17 Acquired bonds from Akela Corporation at P500,000.
12/31/17 Fair value of the bonds quoted at 120.
12/31/18 Fair value of the bonds quoted at 110.
D. Investments held at fair value through profit and loss
6/2/17 Acquired bonds from Akela Corporation at P500,000.
12/31/17 Fair value of the bonds quoted at 120.
12/31/18 Fair value of the bonds quoted at 110.
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Frank Hodge
10th edition
1259964949, 1259964947, 978-1259964947
