Reference no: EM132829553
The following information relates to non-current investments that Dragon Company placed in trust as required by underwriter of its bonds:
Bond sinking fund balance, January 1, 2018, P2,000,000;
Additional investment during 2018, P500,000;
Interest revenue, P20,000;
Administrative costs, P15,000,
Carrying value of bonds payable, P3,000,000.
Problem 1: What amount should Dragon Company report in its December 31, 2018 balance sheet related to its non-current investment for bond sinking fund requirements?
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