Solution-How much is the carrying amount of fvtoci at

How much is the carrying amount of fvtoci at december

Reference no: EM132759269

On December 29, 2018 (trade date), Karen Company commit itself to sell a financial asset to be classified as fair value through other comprehensive income for its current fair value of Php 506,000. The assets was acquired a year with a cost of Php 500,000. On December 31, 2018 the fair value of the asset is Php 510,000. On January 5, 2019 (settlement date) the asset fair value is Php 513,000.

Required: Based on the above, answer the following:

Problem 1: If Karen Company uses the trade date method to account for regular way sales of its securities, how much is the carrying amount of FVTOCI at December 31, 2018?

Problem 2: If Karen Company uses the settlement date method to account for regular way sales of its securities, how much is the carrying amount of FVTOCI at December 31, 2018?

Reference no: EM132759269

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How much is the carrying amount of fvtoci at december

Reference no: EM132759269

Reference no: EM132759269

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