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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
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