Inspiration Company had trading and nontrading investments held throughout 2014 and 2015. The nontrading investments are measured at fair value through other comprehensive income. The investments had a cost of P3,000,000 for trading and P3,000,000 for nontrading. The investments had the following fair value at year-end: December 31, 2014 December 31, 2015 Trading 4,000,000 3,800,000 Nontrading 3,200,000 3,700,000 Prepare all journal entries for 2014 and 2015
Inspiration Company had trading and nontrading investments held throughout 2014 and 2015. The nontrading investments are measured at fair value through other comprehensive income. The investments had a cost of P3,000,000 for trading and P3,000,000 for nontrading. The investments had the following fair value at year-end: December 31, 2014 December 31, 2015 Trading 4,000,000 3,800,000 Nontrading 3,200,000 3,700,000 Prepare all journal entries for 2014 and 2015
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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DIRECTION: Use the problem in solving the following requirements
Inspiration Company had trading and nontrading investments held throughout 2014 and 2015. The
nontrading investments are measured at fair value through other comprehensive income. The
investments had a cost of P3,000,000 for trading and P3,000,000 for nontrading. The investments
had the following fair value at year-end:
December 31, 2014 December 31, 2015
Trading 4,000,000 3,800,000
Nontrading 3,200,000 3,700,000
Prepare all
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