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What is the carrying amount of Dani bond on December

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Reference no: EM132934679

Problem - On January 1, 2020, Hannah's Publishing (Hannah) acquired Dani-HIIT Co.'s (Dani) P3,500,000, 5-year 10% bond for P3,309,661.31. The ongoing interest rate for Dani's bonds at that time was 11% To successfully purchase Dani's bonds, Hannah incurred a transaction cost of P150,000 (on top of the purchase price).

Hannah classifies Dani's bond as a financial asset at fair value through other comprehensive income. The fair value of the bonds at the end of each year is as follows:

December 31, 2020 105

December 31, 2021 103

December 31, 2022 97

What is the carrying amount of Dani's bond on December 31, 2021?

Reference no: EM132934679

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