Give all entries during the year

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Question - Powerpuff Company purchased the following securities during 2019, all of which are classified as financial assets at fair value through profit or loss. April. 1 100 of 10%, 10,000 face value Peach Company bonds due April 1, 2029; interest is payable April 1 and October 1. The bonds were purchased at 101. July. 1 Buttercup Corporation 12% bonds; P150,000 face value, dated March 1, 2019, purchased at face value plus accrued interest. Interest is payable annually on March 1; the bonds are due on March 1, 2029. The fair values at December 31, 2019 are as follows; Peach Company bonds 99% Buttercup Corporation bonds 102%.

Required - Give all entries during the year 2019, including any adjusting entries at December 31, 2019.

Reference no: EM132945906

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