How much from the list to be considered as financial asset

Assignment Help Financial Accounting

Reference no: EM132802444

Question - Given the list of securities and other assets that may qualify as investment. Equity Securities of another company where no control nor significant influence exists. The company elected to report gains and losses in the profit and loss P100,000

Equity Securities of another company where no control nor significant influence exists. The company elected to report gains and losses in the other comprehensive income/loss 150,000

20% Equity securities of another company quoted in an active market 500,000

51% Equity securities of another company quoted in an active market 1,400,000

Equity securities of the company quoted in an active market reacquired with the intention of reissuance in the latter period for short term profit 500,000

Debt security of another company quoted in an active market. Business model of the company has an objective to hold debt securities for short term profits 100,000

Debt security of another company quoted in an active market. Business model of the company has an objective of collecting contractual cash flows from the bonds which are primarily in the form of interest and principal 500,000

Real Property held for sale in the normal course of business 500,000

Real Property held for speculation purposes 700,000

Real Property held as a current factory site 1,000,000

Real Property of a manufacturing business being leased out to another party under operating lease 900,000

Land held for undetermined future purpose 800,000

Land held to be used as a future plant site 400,000

Real Estate being developed as an investment property 300,000

How much from the list above is to be considered as financial asset at fair value through profits or loss?

Reference no: EM132802444

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