ABC Corp acquired 30,000 shares of XYZ Co. The shares were actively traded in the three markets. The following data were made available: PSE Nikkei NYSE Market Price 100 105 102 Transaction Cost 4 10 5 Transport costs 5 10 20 ABC Corp normally buys and sells XYZ's shares in PSE and designate them as investment held for FVOCI. The entry to record the acquisition would include: Dr. Investment in equity securities- FVOCI, P2,850,000 Dr Investment in debt equity - FVOCI P2,850,000 Dr Investment in equity security - FVOCI P2,970,000 Dr. Investment in debt equity- FVOCI P3,120,000
ABC Corp acquired 30,000 shares of XYZ Co. The shares were actively traded in the three markets. The following data were made available: PSE Nikkei NYSE Market Price 100 105 102 Transaction Cost 4 10 5 Transport costs 5 10 20 ABC Corp normally buys and sells XYZ's shares in PSE and designate them as investment held for FVOCI. The entry to record the acquisition would include: Dr. Investment in equity securities- FVOCI, P2,850,000 Dr Investment in debt equity - FVOCI P2,850,000 Dr Investment in equity security - FVOCI P2,970,000 Dr. Investment in debt equity- FVOCI P3,120,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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47.ABC Corp acquired 30,000 shares of XYZ Co. The shares were actively traded in the three markets. The following data were made available:
PSE Nikkei NYSE
Market Price 100 105 102
Transaction Cost 4 10 5
Transport costs 5 10 20
ABC Corp normally buys and sells XYZ's shares in PSE and designate them as investment held for FVOCI. The entry to record the acquisition would include:
PSE Nikkei NYSE
Market Price 100 105 102
Transaction Cost 4 10 5
Transport costs 5 10 20
ABC Corp normally buys and sells XYZ's shares in PSE and designate them as investment held for FVOCI. The entry to record the acquisition would include:
Dr. Investment in equity securities- FVOCI, P2,850,000
Dr Investment in debt equity - FVOCI P2,850,000
Dr Investment in equity security - FVOCI P2,970,000
Dr. Investment in debt equity- FVOCI P3,120,000
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