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Using the data given below, compute for the total amount of items that meet the definition of financial asset Cash P  100,000 Fair value through profit or loss securities 500,000 Investment in associate 2,000,000 Trade receivable 1,000,000 Inventories 800,000 Prepaid insurance 50,000 Interest rate swap receivable 200,000 Investment in debt securities – FVTOCI 400,000 Investment in debt securities – AC 350,000 Land 2,000,000 Buildings 3,000,000 Machinery and equipment 1,500,000 Patents 250,000

Using the data given below, compute for the total amount of items that meet the definition of financial asset Cash P  100,000 Fair value through profit or loss securities 500,000 Investment in associate 2,000,000 Trade receivable 1,000,000 Inventories 800,000 Prepaid insurance 50,000 Interest rate swap receivable 200,000 Investment in debt securities – FVTOCI 400,000 Investment in debt securities – AC 350,000 Land 2,000,000 Buildings 3,000,000 Machinery and equipment 1,500,000 Patents 250,000

FINANCIAL ACCOUNTING
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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Using the data given below, compute for the total amount of items that meet the definition of financial asset

Cash

P  100,000

Fair value through profit or loss securities

500,000

Investment in associate

2,000,000

Trade receivable

1,000,000

Inventories

800,000

Prepaid insurance

50,000

Interest rate swap receivable

200,000

Investment in debt securities – FVTOCI

400,000

Investment in debt securities – AC

350,000

Land

2,000,000

Buildings

3,000,000

Machinery and equipment

1,500,000

Patents

250,000
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