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Financial Asset at Fair Value Through Profit or Loss
Financial Asset at Fair Value Through Profit or Loss
1. On January 1, 2020, Giling-Giling Girls Company purchased the following trading securities:
Fair value
Cost Dec. 31, 2020
Docor Company Ordinary 600,000 650,000
Aguiflor Company preference 350,000 200.000
Manjares Company bonds 500,000 400,000
On October 1, 2021, the entity sold one-half of Docor Company ordinary for P375,000.
On December 31, 2021, the fair value of the remaining securities was P800,000.
2. Gerald Aguilar Company carried out the following transactions in bond investments held for
trading during the current year.
2021
July. 1 Purchased 5,000, P1,000, 12% bonds of Lea Erica Company at 104 plus accrued interest of
P150,000. The bonds pay interest semi-annually on April 1 and October 1.
July. 31 Purchased 2,000, P1,000, 12% bonds of Rizalinda Company at 98 plus accrued interest.
Semi-annual payment of interest, May 31 and November 30.
Dec. 1 Sold 2,000 of the Lea Erica bonds at 102 plus accrued interest.