The carrying amount of Investment in Ordinary Shares as of December 31, 2020 is misstated by

a. P200,000 over

b. P200,000 under

c. P50,000 over

d. P50,000 under

Assassin Corporation's accounting records included the following investments: Investment in Ordinary Shares 1/1/18 P1,000,000 7/1/20 P800,000 12/31/18 200,000 12/31/19 300,000 Investment in Bonds P1,051,510 1/1/20 During the course of your audit, you noted the following. Investment in Ordinary Shares The investment is not designated at FVTOCI. Acquired on January 1, 2018 at P950,000 plus transaction costs of P50,000. On July 1, 2020, the entity sold half of the investment for its fair value of P800,000. Fair value of the investment: December 31, 2018, P1,200,000; December 31, 2019, P1,500,000; December 31, 2020, P900,000. Investment in Bonds The entity uses the 'held for collection' business model for acquired and originated debt instruments. P1,000,000, 10% bonds, purchased for P1,051,510 including transaction costs of P20,000. Interest is payable annually every December 31. The bonds mature on December 31, 2022. The effective interest rate is 8%. The prevailing market rate for the bonds is 9% at December 31, 2020