What was the acquisition cost of the financial asset

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Reference no: EM132805554

The following information was extracted from the December 31, 2020 statement of financial position of Ayos Company:

Noncurrent assets:

Financial assets at fair value 3,700,000

Equity:

Unrealized loss on financial asset (300,000)

The company paid transaction cost of P115,000 related to the acquisition of the investment in January 2020. The entity elected to measure the financial asset at fair value through other comprehensive income.

Problem 1: What was the acquisition cost of the financial asset?

Reference no: EM132805554

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