On January 1, 2021, Jeremiah Company purchased trading equity investments which are irrevocably designated at FVPL: Security Purchase price Transaction costs Fair value, Dec. 31, 2021 A P1,000,000 P100,000 P1,500,000 2,000,000 200,000 2,400,000 C 4,000,000 400,000 4,700,000 On July 5, 2020, the entity sold Security C amounting to P5,200,000.

On January 1, 2021, Jeremiah Company purchased trading equity investments which are irrevocably designated at FVPL: Security Purchase price Transaction costs Fair value, Dec. 31, 2021 A P1,000,000 P100,000 P1,500,000 2,000,000 200,000 2,400,000 C 4,000,000 400,000 4,700,000 On July 5, 2020, the entity sold Security C amounting to P5,200,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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