What amount should the investment account be reported

Assignment Help Financial Accounting
Reference no: EM132745993

Problem 1: Assume that on the date of acquisition the debt investment was designated as investment at amortized cost but reclassified on January 1, 2018 due to changes in business model as investment at FVTOCI, what amount of gain (loss) should the company recognized on the date of reclassification?

a. P35,479

b. 77,984

c. P113,373

d. P0

Problem 2: Assume that on the date of acquisition the debt investment was designated as investment at FVTOCI but reclassified on January 1, 2018 due to changes in business model as investment at amortized cost, at what amount should the investment account be reported in December 31, 2018 financial statement?

a. P6,105,546

b. P6,151,877

c. P6,159,400

d. P6,229,862

Reference no: EM132745993

Questions Cloud

Computation of the net present value of the project : Assuming Gallatin's discount rate is 12%, computation of the net present value (NPV) of the project. Compute the Simple Rate of Return on this project
Find what amount of gain should the company recognized : Find what amount of gain (loss) should the company recognized on the date of reclassification? Assume that on the date of acquisition the debt investment
What is the name of the national professional association : What is the name of the national professional association? How many members does the association have nationally?
Prepare general journal entry of factory overhead : Bravo Company uses a job order cost system and applies overhead based on estimated rates. The overhead application rate is based on total estimated overhead.
What amount should the investment account be reported : Business model as investment at amortized cost, at what amount should the investment account be reported in December 31, 2018 financial statement?
What amount of gain should the company recognized : January 1, 2018 due to changes in business model as investment at FVTPL, what amount of gain should the company recognized on the date of reclassification?
How does mass media impacts nike product : Discuss the mass media impacts that are related to your chosen product and the advertising campaign.
At what price should the stock of preston sell : Assuming a required market return of 14% and a risk-free rate of 6%, at what price should the stock of Preston sell
What amount should the debt investment reported in december : What amount should the debt investment be reported in December 31, 2018? Assume that the debt investment was classified initially as investment

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd