How much is the impairment/expected credit loss for the year

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Question - The 2019 financial statements of Third company showed that they have a financial assets at FVOCI with a carrying value of P25,000 and according to the notes to financial statement, this investment was purchased at P28,000 not a long time ago. On May 5, 2020, third sold 30% of this investment at P10,000. As of December 31, 2020, the remaining shares have a market price of 10% less than its carrying value as of the previous year. The said decrease in market value is deemed other than temporary. How much is the impairment/expected credit loss for the year 2020?

Reference no: EM133165691

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