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What is the carrying value of available for sale investment

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Reference no: EM132718531

On October 1, 2020, Peter Senen Company invests P3,000,000 in abound whose interest payments are linked to the price of gold. On October 1, 2020, the derivative contract has a fair value of P150,000. Peter Senen Company has a business model with the objective of trading all financial instruments.

Problem 1: What is the carrying value of the available for sale investment on October 1, 2020?

a. P3,000,000

b. P150,000

c. P3,150,000

d. P2,850,000

Reference no: EM132718531

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