30. An investment in equity securities with a carrying amount of P600,000 was exchanged to an equipment with a fair market value of P400,000. The fair market value of the investment in equity securities at the time of exchange was P800,000. How much is the cost of the new equipment? Group of answer choices 200,000 400,000 800,000
30. An investment in equity securities with a carrying amount of P600,000 was exchanged to an equipment with a fair market value of P400,000. The fair market value of the investment in equity securities at the time of exchange was P800,000. How much is the cost of the new equipment? Group of answer choices 200,000 400,000 800,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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30. An investment in equity securities with a carrying amount of P600,000 was exchanged to an equipment with a fair market value of P400,000. The fair market value of the investment in equity securities at the time of exchange was P800,000. How much is the cost of the new equipment?
Group of answer choices
200,000
400,000
800,000
600,000
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