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20. On January 1, 2021, Trade Company purchased 40,000 shares at P 100 per share to be held for trading. Brokerage fees amounted to P 120,000. No other transactions occurred in 2021 affecting the investment. What is the initial measurement of the investment? a) P 4,120,000 b) P 4,000,000 c) P 3,920,000 d) P 3,800,000

20. On January 1, 2021, Trade Company purchased 40,000 shares at P 100 per share to be held for trading. Brokerage fees amounted to P 120,000. No other transactions occurred in 2021 affecting the investment. What is the initial measurement of the investment? a) P 4,120,000 b) P 4,000,000 c) P 3,920,000 d) P 3,800,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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20. On January 1, 2021, Trade Company purchased 40,000 shares at P 100 per share to be held for trading . Brokerage fees amounted to P 120,000. No other transactions occurred in 2021 affecting the investment. What is the initial measurement of the investment? a) P 4,120,000 b) P 4,000,000 c) P 3,920,000 d) P 3,800,000
Transcribed Image Text:20. On January 1, 2021, Trade Company purchased 40,000 shares at P 100 per share to be held for trading . Brokerage fees amounted to P 120,000. No other transactions occurred in 2021 affecting the investment. What is the initial measurement of the investment? a) P 4,120,000 b) P 4,000,000 c) P 3,920,000 d) P 3,800,000
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