During your audit of Esau Corporation for the year 2021, you found the following postings to the FVPL account: Date Particulars Debit Credit Jan. 1 Purchased 10,000 preference shares of F Company P100,000 Jan. 3 Purchased 1,000 shares of A Company 54,000 Jan. 8 Purchased 1,000 shares of B Company 60,000 Feb. 28 Cash dividends, F Company 20,000 Apr. 2 Cash dividends, A Company 1,000 Apr. 5 Sold 500 shares, A Company 28,000 Apr. 8 Purchased 1,000 shares of C Company 30,000 Purchased 1,000 shares of D Company 36,000 July 15 Purchased 200 shares, Esau Company 33,000 Purchased 500 shares of E Company 20,000 Aug. 15 Sold 100 shares, Esau Company 20,000 Dec. 8 Received 10% bonus issue from E Corporation 2,000 Dec. 10 Cash dividend, C Company 1,200 The following information was discovered from your audit procedures: The cash dividends received from A Company, pertains to dividends declared on December 28, 2020 to shareholders as of record on March 5, 2021, payable on April 2, 2021. The Esau Company purchases 200 of its own ordinary shares held by a deceased shareholder for P165 per share. 100 of these shares were sold at its market price of P200 per share on August 15. On December 8, 50 shares of E company were received, Esau credited dividend income equal to the market price of the shares received. On December 15, E Company declared a P5 cash dividend per share, payable on January 10, 2022 to shareholders of record as of December 28, 2021. No accrual has been made by Esau. The acquisition on January 1 represents 30% of the total shares of that class of F Company, the amount debited includes a transaction cost of P2 per share. F company reported a net income of P100,000 for the year 2021. The market price of the shares are as follows as of December 31, 2021: A company P55 B company 54 C company 32 D company 39 E company 38 F company 12 What is the carrying amount of FVPL that should be presented in the statement of financial position as of December 31, 2021?

During your audit of Esau Corporation for the year 2021, you found the following postings to the FVPL account: Date Particulars Debit Credit Jan. 1 Purchased 10,000 preference shares of F Company P100,000 Jan. 3 Purchased 1,000 shares of A Company 54,000 Jan. 8 Purchased 1,000 shares of B Company 60,000 Feb. 28 Cash dividends, F Company 20,000 Apr. 2 Cash dividends, A Company 1,000 Apr. 5 Sold 500 shares, A Company 28,000 Apr. 8 Purchased 1,000 shares of C Company 30,000 Purchased 1,000 shares of D Company 36,000 July 15 Purchased 200 shares, Esau Company 33,000 Purchased 500 shares of E Company 20,000 Aug. 15 Sold 100 shares, Esau Company 20,000 Dec. 8 Received 10% bonus issue from E Corporation 2,000 Dec. 10 Cash dividend, C Company 1,200 The following information was discovered from your audit procedures: The cash dividends received from A Company, pertains to dividends declared on December 28, 2020 to shareholders as of record on March 5, 2021, payable on April 2, 2021. The Esau Company purchases 200 of its own ordinary shares held by a deceased shareholder for P165 per share. 100 of these shares were sold at its market price of P200 per share on August 15. On December 8, 50 shares of E company were received, Esau credited dividend income equal to the market price of the shares received. On December 15, E Company declared a P5 cash dividend per share, payable on January 10, 2022 to shareholders of record as of December 28, 2021. No accrual has been made by Esau. The acquisition on January 1 represents 30% of the total shares of that class of F Company, the amount debited includes a transaction cost of P2 per share. F company reported a net income of P100,000 for the year 2021. The market price of the shares are as follows as of December 31, 2021: A company P55 B company 54 C company 32 D company 39 E company 38 F company 12 What is the carrying amount of FVPL that should be presented in the statement of financial position as of December 31, 2021?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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During your audit of Esau Corporation for the year 2021, you found the following postings to the FVPL account:

Date	Particulars	Debit	Credit
Jan. 1	Purchased 10,000 preference shares of F Company	P100,000
Jan. 3	Purchased 1,000 shares of A Company	54,000
Jan. 8	Purchased 1,000 shares of B Company	60,000
Feb. 28	Cash dividends, F Company		20,000
Apr. 2	Cash dividends, A Company		1,000
Apr. 5	Sold 500 shares, A Company		28,000
Apr. 8	Purchased 1,000 shares of C Company	30,000
	Purchased 1,000 shares of D Company	36,000
July 15	Purchased 200 shares, Esau Company	33,000
	Purchased 500 shares of E Company	20,000
Aug. 15	Sold 100 shares, Esau Company		20,000
Dec. 8	Received 10% bonus issue from E Corporation	2,000
Dec. 10	Cash dividend, C Company		1,200

The following information was discovered from your audit procedures:

The cash dividends received from A Company, pertains to dividends declared on December 28, 2020 to shareholders as of record on March 5, 2021, payable on April 2, 2021.
The Esau Company purchases 200 of its own ordinary shares held by a deceased shareholder for P165 per share. 100 of these shares were sold at its market price of P200 per share on August 15.
On December 8, 50 shares of E company were received, Esau credited dividend income equal to the market price of the shares received.
On December 15, E Company declared a P5 cash dividend per share, payable on January 10, 2022 to shareholders of record as of December 28, 2021. No accrual has been made by Esau.
The acquisition on January 1 represents 30% of the total shares of that class of F Company, the amount debited includes a transaction cost of P2 per share. F company reported a net income of P100,000 for the year 2021.
The market price of the shares are as follows as of December 31, 2021:

A company P55
B company 54
C company 32
D company 39
E company 38
F company 12

What is the carrying amount of FVPL that should be presented in the statement of financial position as of December 31, 2021?

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