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What amount should the debt investment be reported

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Reference no: EM132745988

Problem 1: Assume that the debt investment was classified initially as investment at FVTPL, assume further that during the year 2017 there was a change in business model and cash flow characteristics to investment at FVTOCI and decided to effect in January 1, 2018. On December 31, 2018 the debt investment has fair value of of P6,213,992 which is based on the prevailing rate of 8%. What amount should the debt investment be reported in December 31, 2018?

a. P6,082,949

b. P6,159,400

c. P6,213,992

d. P6,229,862

Reference no: EM132745988

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