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What total amount should be debited or credited

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Question - On June 1, 2020, BeeGees Company purchased 4,000 shares of another entity costing P100 per share. Transaction costs amounted to P12,000. The investment is measured at fair value through other comprehensive income.

A P5 dividend per share had been declared on December 15, 2020, to be paid on March 31, 2021 to shareholders of record on January 31, 2021.

On December 31, 2020, the investment has a fair value of P105 per share. On February 1, 2021, BeeGees sold the investment at P120 per share.

Required - What total amount should be debited or credited to retained earnings as a result of the sale of equity securities in 2021?

Reference no: EM133121380

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