The following transactions appear on the equity investments at fair value through profit or loss account of THE EAST Corporation Date Particulars Purchased 40,000 shares of ABCD at P 30.75/share and 20,000 shares of Benpress at P 23/share Purchased CTRL 15% bonds, face value P 4,000,000. Interest dates July 1 and Jan 1. Maturity date July 1, 20x9 Sold 14,400 shares of ABCD at P 30/share And 4,000 shares of Benpress at P 25/share Sold PAG-IBIG bonds at 98 plus accrued interest Debit Credit 03/1/x6 P 1,690,000 07/03/x6 4,000,000 11/5/x6 P532,000 4,220,000 12/31/x6 i. On October 1,20x6 THE EAST received 8,000 shares of ABCD as stock dividend ii. Benpress declared a 15% stock dividend to all stockholders of record as of November 15, 20x6 payable on December 1,20x6 REQUIRED: Based on the data above, how much is the adjusted balance of THE EAST'S equity investments at fair value through profit or loss as of December 31, 2016?

The following transactions appear on the equity investments at fair value through profit or loss account of THE EAST Corporation Date Particulars Purchased 40,000 shares of ABCD at P 30.75/share and 20,000 shares of Benpress at P 23/share Purchased CTRL 15% bonds, face value P 4,000,000. Interest dates July 1 and Jan 1. Maturity date July 1, 20x9 Sold 14,400 shares of ABCD at P 30/share And 4,000 shares of Benpress at P 25/share Sold PAG-IBIG bonds at 98 plus accrued interest Debit Credit 03/1/x6 P 1,690,000 07/03/x6 4,000,000 11/5/x6 P532,000 4,220,000 12/31/x6 i. On October 1,20x6 THE EAST received 8,000 shares of ABCD as stock dividend ii. Benpress declared a 15% stock dividend to all stockholders of record as of November 15, 20x6 payable on December 1,20x6 REQUIRED: Based on the data above, how much is the adjusted balance of THE EAST'S equity investments at fair value through profit or loss as of December 31, 2016?

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter15: Investments And Fair Value Accounting

Section: Chapter Questions

Problem 15E

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