On June 30, 2021, UAE Company, sold an investment in other comprehensive income for P 2,400,000 This investment was originally purchased at a cost of P1,600,000. At the time of disposal, the carrying amount of the investment at fair value was P1,800,000. The investment has a related fair value gain of P200,000 that was recognized in the fair value reserve. What is the total amount that should be charged to retained earnings at the time of disposal
On June 30, 2021, UAE Company, sold an investment in other comprehensive income for P 2,400,000 This investment was originally purchased at a cost of P1,600,000. At the time of disposal, the carrying amount of the investment at fair value was P1,800,000. The investment has a related fair value gain of P200,000 that was recognized in the fair value reserve. What is the total amount that should be charged to retained earnings at the time of disposal
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On June 30, 2021, UAE Company, sold an investment in other comprehensive income for P 2,400,000 This investment was originally purchased at a cost of P1,600,000. At the time of disposal, the carrying amount of the investment at fair value was P1,800,000. The investment has a related fair value gain of P200,000 that was recognized in the fair value reserve. What is the total amount that should be charged to retained earnings at the time of disposal
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