ACC124

INVESTMENTS IN SECURITIES

1. (Millan , 2019) Financial assets are initially recognized and subsequently measured on
the basis of

a. The entity’s business model for managing the financial assets

b. The contractual cash flow characteristics of the financial asset
c. a and b
d. a or b

2. (PRTC, 2021) Designation as a financial asset at fair value through profit or loss
applies to
a. Debt investments
b. Equity investments
c. Both a and b
d. Neither a nor b

3. (REO, 2022) The following may be reclassified into a different category, except

a. Debt investment at FVOCI

b. Debt investment at amortized cost
c. Debt investment held for trading.
d. Debt investment at FVPL under the FV option

4. (RESA) Which of the following items should be treated as dividend income?

a. Reverse stock split
b. Cash received in lieu of shares
c. Shares received in lieu of cash
d. Cash dividend under equity method

5. (Millan, 2019) Boss Co. purchased bonds at a discount on the open market as an
investment. The bonds will be held in order to collect their contractual cash flows.
Boss should account for these bonds at
A. Cost
B. Amortized cost
C. Fair value
D. Lower of cost or market

6. (Millan, 2019) Swing Company acquired equity securities of Pitch Company to be

held as investments. On the initial recognition the equity securities were part of a
portfolio of identified financial instruments that are managed together and for which
there is evidence of a recent actual pattern of short-term profit-taking. Swing would
most likely classify the investment as
a. FVPL
 b. FVOCI
c. Amortized
d. either a or b

7. (Pinnacle, 2022) When an entity transfers a financial asset, it shall evaluate the extent
to which it retains ____________ the financial asset.
A. The rights and obligations of ownership of
B. Control over
C. The risks and rewards of ownership
D. Significant influence over

8. (RESA) Which of the following is true with regards to the accrued interest on bonds
payable that are sold between interest dates?

a. The accrued interest is computed using the effective rate

b. The accrued interest will be paid to the seller when the bonds mature
c. The accrued interest is extra income to the buyer and treated as bond issue cost of
the buyer
d. The accrued interest is added to the issue price of the bond to determine the total
cash proceeds from bond issuance

9. (PRTC, 2022) At initial recognition, an entity shall measure which of the following
financial assets at their fair value plus transaction costs that are directly attributable to
the acquisition of the financial assets?
a. Those that the entity intends to sell immediately or in the near term.
b. Those that the entity upon initial recognition designates as at fair value through
profit or loss.
c. Those that qualify as FA at FVTOCI.
d. None of these.

10. (PRTC 2022) Which of the following is subject to impairment in accordance with
PFRS 9?
a. Financial asset acquired principally for the purpose of selling it in the near term
b. Financial asset that is part of a portfolio of identified financial instruments that are
managed together and for which there is evidence of a recent actual pattern of short-
term profit-taking
c. Financial asset that is a derivative
d. Finance lease receivable

11. (RESA, 2022) Which of the following is true about equity method in accounting for
investment in associate?
a. Investment should be carried at the balance sheet date at fair value less cost to sell
b. Impairment loss shall be recognized if recoverable value is lower than carrying
amount
 c. Transaction cost should be expensed outright at initial recognition
d. Dividend received is reported in the income statement

12. (REO) At initial recognition, an entity may make an irrevocable election to present in
other comprehensive income the subsequent changes in the fair value of an
investment in equity securities within the scope of PFRS 9 that is not held for trading.
In accounting for such financial instruments, all of the following are true except
A. Amounts presented in other comprehensive income are not be subsequently
transferred to profit or loss
B. The entity may transfer any cumulative fair value gains or losses within equity
C. Dividends received on the investments are recognized in profit or loss
D. Cumulative fair value gains or losses are transferred to profit or loss when the
financial asset is derecognized.

13. (ICARE, 2022) Which of the following statements is true concerning significant
influence?
A. If an investor holds, directly or indirectly, less than 20% of the voting power of the
investee, it is presumed that the investor does not have significant influence, unless
such influence can be clearly demonstrated.
B. If an investor holds, directly or indirectly, 20% or more of the voting power of the
investee, it is presumed that the investor does have a significant influence, unless it
can be clearly demonstrated that this is not the case.
C. A substantial or majority ownership by another investor does not necessarily
preclude an investor from having significant influence.
D. All of these statements are true about significant influence.

14. (RESA) How would an increase in the fair value of the ordinary shares affect the
investment account under each of the following appropriate classification?
Trading equity securities Investment in Associate
a. Increase Increase
b. Increase No effect
c. No effect No effect
d. No effect Increase

15. (REO) Which of the listed transactions below are shown with proper treatment and
classification in accounting for investment in equity securities under PFRS 9?
I. Declaration of share split will not affect the cost per share of the investment in
shares of stock.
II. Declaration of bonus issue will increase the no. of shares held by the investor.
A. I only C. Both I and II
B. II only D. Neither I nor II
16. (RESA) ABC Corporation holds 30% of the ordinary shares of XYZ Corporation and
uses the equity method to account for this investment. ABC Corporation has no
commitment to financially support the operations of XYZ. XYZ has been incurring
significant losses in the past years. Under these circumstances, ABC should
A. consistently use the equity method even if the investment account results in a
credit balance.
B. discontinue using the equity method when the balance is equal to the original cost
of the investment.
C. discontinue using the equity method when the investment account is reduced to
zero.
D. recognize a provision equal to the resulting negative balance of the investment to
bring the investment account to zero balance.

17. (RESA, 2022) The following statements are based on PAS 28 (Investment in
Associates):
Statement I: An investment in an associate shall be accounted for using the equity
method (benchmark) or cost method (alternative).
Statement II: An investor shall discontinue the use of equity method from the date
when it ceases to have significant influence over an associate and shall account for the
investment in accordance with PFRS 9.
Statement III: On the loss of significant influence, the investor shall measure at
historical cost any investment the investor retains in the former associate.
a. Only statement I is false
b. Only statement II is true
c. Only statement III is true
d. All of the statements are false

18. (PRTC, 2021) Which statement is correct regarding derecognition of financial assets?

a. Transfer of risks and rewards is evaluated by determining the transferee’s ability to

sell the asset.
b. A sale and repurchase transaction where the repurchase price is a fixed price is a
transfer of financial asset that qualifies for derecognition.
c. The entity shall continue to recognize the transferred asset in its entirety if the
transfer does not qualify for derecognition because the entity has retained
substantially all the risks and rewards of ownership of the transferred asset.
d. If an entity neither transfers nor retains substantially all the risks and rewards of
ownership of a transferred asset, the entity shall continue to recognize the transferred
asset to the extent of its continuing involvement.

19. (PRTC, 2022) When an entity sells a more than insignificant amount of debt
investments classified as FA at AC, the remaining debt investments
a. Shall be reclassified to FA at FVTPL.
b. Shall be reclassified to FA at FVTOCI.
 c. Shall be classified as available for sale.
d. May still be classified as FA at AC.

20. In relation to investments in equity securities, determine if the following statements

are true or false.
S1: All stock dividend declarations of investee corporations are recorded
through a memorandum entry only.
S2: Share split-ups do not affect the total cost of investment but decreases the
cost per share.
S3: Investment at fair value through profit or loss presents transactions costs
and unrealized gains or losses on changes in fair value both at profit or loss
a. Only S1 and S2 are true
b. Only S3 is true
c. Only S1 is false
d. Only S3 is false

PROBLEMS
1. (ARC, 2022) Olivia Company made the following transactions in the ordinary shares
of Rodrigo Company designated as a financial asset fair value through profit or loss:
July 16, 2019- Purchased 10,000 shares at P45 per share
June 28, 2020- Sold 2,000 shares for P51 per share
May 18, 2021- Sold 2,500 shares for P33 per share

The end-of-year market prices for the shares were as follows:

December 31, 2019- P47 per share
December 31, 2020- P39 per share
December 31, 2021- P31 per share
How much should be recognized in 2021 profit or loss as a result of the fair value
changes?

a. 77,000
b. 11,000
c. 44,000
d. 0

2. (RESA, 2021) On January 1, 2020, Vanadium Company purchased a debt instrument

for P8,711,250. The market rate for this type of investment is 8.25%. The debt
instrument pays a contract rate of 5% on the face value of P10,000,000 at the end of
each financial year for five years. The effective rate is 7.5% as a result of transaction
cost paid by Vanadium amounting to P277,700. The fair values of the debt instrument
are 98 and 101 on December 31, 2020 and December 31, 2021, respectively. The
business model in managing the financial assets is to collect contractual cash flows
and to sell the debt instrument in an open market.
How much is the carrying value of the investment on December 31, 2021?
 a. 10,100,000
b. 9,800,000
c. 9,350,355
d. 9,492,058

3. (REO) On January 1, 2016, POTASSIUM CORP. acquired 4-year bonds with a face
value of P2,000,000 and stated interest of 10% per year payable annually on
December 31. The bonds were acquired to yield 12%. The bonds are to be
appropriately classified as financial asset at amortized cost
How much is the purchase price of bonds on January 1, 2016?
a. P1,884,814
b. P1,878,460
c. P1,834,814
d. P1,934,814

4. (ICARE, 2021) On January 1, 2022, PARKER Company purchased bonds with face
amount of P5,000,000. The entity paid P4,600,000 plus transaction cost of P142,000.
The bonds mature on December 31, 2020 and pay 6% interest annually on December
31 of each year with 8% effective yield. The bonds quoted at 105 on December 31,
2022.
If the business model for this investment is to hold and collect contractual cash
flows that are solely payments of interest and principal, compute for the (1) interest
income for the year 2022; (2) carrying value of the bond investment on December 31,
2022, and (3) unrealized gain on fair value changes that will be presented in the
statement of comprehensive income for the year 2022.
1 2 3
a. 379,360 4,821,360 Zero
b. 379,360 5,250,000 428,640
c. 300,000 5,250,000 650,000
d. 300,000 4,821,360 Zero

5. On January 2, 2022, Al Company purchased 5-year, 8% bonds with face amount of

P1,000,000 for P922,768. The bonds were purchased to yield 10%. Interest is payable
semi-annually every June 30 and December 31.

The following are the quoted price of the bonds as of December 31, 2022 and 2023:
December 31, 2022 99.0
December 31, 2023 102.0

All the bonds were sold on April 30, 2024 at P980,000 plus accrued interest.
The business model for this investment is to collect contractual cash flows that are
solely payments of principal and interest and to sell the bonds in the open market.
 At what amount shall the investment be presented on December 31, 2022 and how
much is the interest income for the year 2022?
Investment, December 31, 2022 = P990,000
Interest Income = P 92,583

6. On August 1, 2022, Up Company acquired P9,000,000, 12% serial bonds. The bonds
were purchased to yield 10%. The principal is collectible in three equal annual
installments beginning July 31, 2023. Interest on the unpaid balance is collectible
annually every July 31 starting July 31, 2023. Up Company holds investment in bonds
to collect contractual cash flows that are solely principal and interest.

What is the carrying amount of the investment on December 31, 2023?

P6,115,077

7. (REO) On January 1, 2023, OMEGA CORP. purchased the debt instruments with a
face value of P1,000,000 bearing interest rate of 8% for P924,201 to yield 10%
interest per year. The bonds mature on January 1, 2028 and pay interest annually on
December 31.

On December 31, 2023, the prevailing market rate of 9% while on December 31,
2024, the fair value of the debt instrument is P920,000.
PV factor of 9% after 4 years 0.7084
PV factor of annuity of 9% after 4 years 3.2397

What amount shall be reported as unrealized gain or loss on fair value changes in the
statement of comprehensive income for the year ended December 31, 2023 under
each of the following classification?
FVPL FVOCI Amortized Cost
a. 43,375 gain 43,375 loss 43,375 gain
b. 43,375 gain 30,955 gain None
c. 43,375 loss 30,955 gain 30,955 gain
d. 43,375 gain 43,375 gain None

8. (RESA, 2022) The Katipunera Corporation bought the shares of Luna Company
classified as equity investments at fair value through other comprehensive income, as
follows:
April 17, 2022 1,000 shares at P84
July 16, 2022 2,000 shares at P90
Market value per share of Luna Company shares at December 31, 2022 was P92.
The following were the transactions for 2023:
January 10 Received cash dividend at P4 per share.
June 20 Received 5% bonus issue.
December 10 Sold 1,200 shares at P105 per share.
What amount of dividend revenue should Katipunera Company report for 2023?
 a. P 0
b. P 12,000
c. P 13,800
d. P 25,800

9. (RESA, 2022) On January 1, 2022 Belgium Corp. acquired 35% of the total 500,000
outstanding ordinary shares of Brussels Company for P3,500,000. Brussels reported
during 2022 a total net income of P4,000,000 and actuarial loss from defined benefit
plan from of P200,000. The fair value of share at that time is P15 per share. Brussels
distributed total cash dividends at year end of P1,000,000.
What is the carrying value of Investment in Brussels on December 31, 2022?
a. P 4,480,000
b. P 4,725,000
c. P 6,580,000
d. P 4,840,000

10. (REO) Las Palmas, Inc. bought 40% of Adams outstanding ordinary shares on
January 2, 2015, for P4,000,000. The carrying amount of Adams net assets at the
purchase date totaled P9,000,000. Fair values and carrying amounts were the same for
all items except for plant and inventories, for which fair values exceeded their
carrying amounts by P900,000 and P100,000, respectively. The plant has an 18-year
life. All inventories were sold during 2015. During 2015, Adams reported profit of
P1,200,000 and paid a P200,000 cash dividend.

What is the investment carrying value reported in Las Palmas statement of financial
position at December 31, 2015?
a. P4,400,000
b. P4,380,000
c. P4,340,000
d. P4,000,000

11. (RESA, 2021) Cobalt Company purchased 150,000 ordinary shares of the 750,000
ordinary shares and 50,000 preference shares of the 200,000, P100 par, 12%
cumulative preference shares of Co Company. On December 31, 2021, Co company
reported net income of P3,000,000 and declared dividends to preference shareholders.
How much is the total income taken to 2021 profit or loss statement related to the
Investment in Associate?
a. 120,000
b. 720,000
c. 600,000
d. 480,000

12. (RESA, 2022) On January 1, 2021, Allyssa Company acquired 30% of the voting
share capital of Ruby Company for P5,000,000 which was equal to the book value of
 interest acquired. The investee reported net profit of P4,000,000 for 2021 and
P6,000,000 for 2022 but paid no dividends during the two-year period. On July 1,
2022, Alyssa sold half of the investment for P4,500,000. The fair value of the
remaining investment was P4,800,000 on July 1, 2022 and P5,500,000 on December
31, 2022. The remaining investment is to be held at fair value through other
comprehensive income. What amount of gain or loss on reclassification shall be
recognized on July 1, 2022?
a. P 1,950,000
b. P 1,250,000
c. P 950,000
d. P 700,000

13. (REO) At the beginning of current year, Mercury Corp., acquired 200,000 ordinary
shares of an investee for P9,000,000. The investment is measured at fair value through
other comprehensive income. At the time of purchase, the investee had outstanding
800,000 shares with a carrying amount of P36,000,000. The following events took
place during the year:
The investee reported net income of P1,800,000
MERCURY received from the investee a dividend of P0.75 per ordinary share
The market value of the investees share had declined to P40 at year-end
What is the carrying amount of the investment at year-end?
a. 8,000,000
b. 9,000,000
c. 9,300,000
d. 9,450,000

14. (REO) On January 1, 2021, MARS CORP. purchased 12,000 shares of VENUS
CORP. for P400,000. Commission paid to broker amounted to P20,000. Management
made an irrevocable choice to subsequently measure the shares at fair value through
other comprehensive income. On December 31, 2021, the shares were quoted at P40
per share. On January 3, 2022, all of the shares were sold at P60 per share.
Commission paid on the sale amounted to P23,000. How much is the unrealized gain
(loss) recognized in profit or loss on December 31, 2021?
A. (60,000)
B. 60,000
C. (80,000)
D. 0

For Items 15-16

(RESA, 2022) October 1, 2021, Michael Company purchased 30,000 shares of Scottie
Company at P180 per share which reflected book value as of that date. At the time of
the purchase, Scottie had 100,000 ordinary shares outstanding. Michael had no
ownership interest in Scottie before the purchase. The nine months ending September
 30, 2021 of Scottie recorded profit of P2,960,000. For the year ended December 31,
2021, Scottie reported profit of P4,800,000. Scottie paid Michael dividends of
P120,000 on December 31, 2021.
For the year 2022, Scottie reported profit of P2,800,000 and paid dividends of
P1,700,000 to its ordinary shareholders.
On January 2, 2023, Michael sold 20,000 ordinary shares of Scottie for P250
per share. For year ended December 31, 2023, the reported profit of Scottie was
P4,000,000 and dividends of P40,000 was paid to Michael. Market value of the
remaining shares at this time is P2,300,000.

15. What is the investment carrying value at December 31, 2022?

a. P 6,162,000
b. P 5,970,000
c. P 5,832,000
d. P 5,400,000

16. What is the gain (loss) on the sale of 20,000 shares at January 2, 2023?
a. P 1,400,000
b. P 1,020,000
c. P 1,000,000
d. P 892,000

For Items 17-18

(RESA, 2022) Connie Company carried out the following transactions in bond
investments held for trading during the current year:
8/1 Purchased 5,000, P1,000, 12% bonds of AAA Company at 104 plus
accrued interest. The bonds pay interest semiannually on May 1 and November 1
8/31 Purchased 2,000, P1,000 12% bonds of BBB Company at 98 plus
accrued interest. Semiannual payment of interest is on June 30 and December 31.
12/1 Sold 2,000 of the AAA bonds at 102 plus accrued interest. Brokerage fee
of P160,000 was incurred.
12/31 AAA bonds were selling at 98. BBB bonds were selling at 99.
17. How much is the Gain or Loss on sale of AAA bonds?
a. P 40,000 loss
b. P 40,000 gain
c. P 200,000 loss
d. P 200,000 gain

18. How much is the total interest income for the year?
a. P 500,000
b. P 310,000
c. P 270,000
d. P 230,000
19. (ICARE, 2022) Martin Company owns 10,000 ordinary shares of Landry Company.
The shares were purchased for P100 per share early in 2023. On October 31, 2023,
Landry distributed stock rights to Martin. Martin accounts for these rights separately
at fair value and was entitled to buy one new share for P80 and two of these rights. On
October 31, 2023, each share had a market value ex-right of P140, and each right had
a market value of P20. Martin exercises all these rights.

What is the cost per share of the new investment?

A. 140
B. 105
C. 120
D. 100

20. On April 30, 2022, HEARTS Company purchased 12,000, P20 par ordinary shares of
SPADES Co. for P400,000. Transaction costs paid amounted to P20,000. The equity
securities meet the definition of held for trading securities. On December 31, 2022,
the shares are quoted at P40. If the shares are sold on this date, the cost to sell would
be P2.00 per share.

On January 3, 2023, 9,000 SPADES Co. shares were sold at P44 per share. On July 1,
2023, SPADES Co. effected 2-for-1 share split. On September 30, 2023, SPADES Co,
declared and distributed 20% stock dividends when the market value of each share
was P48. The board of directors of SPADES Co. passed a resolution on November 1,
2023 to the effect that the shareholders shall contribute P20 for each share held.
Lastly, SPADES Co. declared P10.00 cash dividends per share on December 15, 2023
to shareholders of record January 15, 2021, to be paid on January 31, 2021.

On December 31, 2023, SPADES Co. shares are quoted at P30 per share. If the shares
are sold on this date, the cost to sell would be P2.40 per share.

How much shall be recognized as unrealized gain (loss) due to fair value changes In
the income statement for the year ended December 31, 2023?
a. 17,280
b. (17,280)
c. 48,000
d. (48,000)
SOLUTION:

1. Date # of shares Cost per share Amount Gain/Loss

2019 10,000 @47
6/28/2020 (2,000)
8,000 @47 376,000
12/31/2020 8,000 @39 312,000 64,000
5/18/2021 (2,500)
5,500 @39 214,500
12/31/2021 5,500 @31 170,500 44,000

2. CV of Investment (@ FAIR VALUE), 12/31/2021 10,100,000

(10,000,000 x 1.01)

3. PV of 1 for 4 years= 0.6355

PV of ordinary annuity for 4 years= 3.0373
2,000,000 x 0.6355= 1,271,000
200,000 x 3.0373= 607,460
1,878,460

4. PURCHASE PRICE 4,600,000

TRANSACTION COST 142,000
4,742,000

INTEREST INTEREST AMORTIZED

DATE RECEIVED INCOME AMORTIZATION COST
1/1/2022 4,742,000
12/31/2022 300,000 379,360 (79,360) 4,821,360
12/31/2023 300,000 385,709 (85,709) 4,907,069
12/31/2024 300,000 392,931 (92,931) 5,000,000

No consideration of FV in amortized cost, so there are no changes in FV to be

recognized.

5. CV of Investment (@ FAIR VALUE), 12/31/2022 990,000

(1,000,000 x 0.99)

INTEREST INTEREST AMORTIZED

DATE RECEIVED INCOME AMORTIZATION COST
1/2/2022 922,768
6/30/2022 40,000 46,138 6,138 928,906
12/31/2022 40,000 46,445 6,445 935,352
 6/30/2023 40,000 46,768 6,768 942,119
12/31/2023 40,000 47,106 7,106 949,226
4/30/2024 40,000 31,641 4,974 954,199
Interest income: 1/2/2022- 6/30/2022 46,138
Add: Interest income: 7/1/2022- 12/31/2022 46,445
92,583

CARRYING
PV OF 1 AT VALUE,
DATE PRINCIPAL INTEREST TOTAL 10% 8/1/2022
7/31/2023 3,000,000 1,080,000 4,080,000 0.9091 3,709,128
7/31/2024 3,000,000 720,000 3,720,000 0.8264 3,074,208
7/31/2025 3,000,000 360,000 3,360,000 0.7513 2,524,368
6.

9,307,704

COLLECTION AMORTIZED
INTEREST INTEREST AMORT ON COST
DATE RECEIVED INCOME . PRINCIPAL
8/1/2022 9,307,704
7/31/2023 1,080,000 930,770 (149,230) 3,000,000 6,158,474
7/31/2024 720,000 615,847 (104,153) 3,000,000 3,054,323
7/31/2025 360,000 305,679 (54,322) 3,000,000 -
Amortization schedule:

Carrying value. 7/31/2023 6,158,474

Less: Premium amortization:
8/1/2022-12/31/2023 (104,153 x 5/12) (43,397)
Carrying value, 12/31/2023 6,115,077

7. FVPL & FVOCI

1,000,000 x 0.7084= 708,400
80,000 x 3.2397 = 259,176
967,576
UNREALIZED GAIN/LOSS
FVPL
924,201- 967,576=43,375 gain
FVOCI
936,621- 967,576= 30,955 gain

INTEREST INTEREST AMORTIZED

DATE RECEIVED INCOME AMORTIZATION COST
1/1/2023 924,201
12/31/2023 80,000 94,420 (12,420) 936,621

8. 3,000 shares x P4/share = 12,000

9. 3,500,000 + (4M x35%) – (200,000 x 35%) – (1M x 35%) = 4,480,000

10. 1.2M x 40% = 480,000 4,000,000

900,000 x 40%/18= (20,000) 420,000
100,000 x 40% = (40,000) (80,000)
420,000 4,340,000

11. TNI = ( 3,000,000 - 2,400,000 ) x 20% = 120,000

12. 4,800,000- (7,100,000 x 50%)= 1,250,000

13. 200,000 x P40= 8,000,000

14. FVOCI- no unrealized gain/loss recognized on profit or loss

15. 5,400,000 + 552,000 – 120,000 + 840,000 – 510,000 = 6,162,000

16. (20,000 x 250) – (6,162,000 x 2/3) = 892,000

17. (2,000,000 x 1.02 – 160,000) – (2/5 x 5,200,000) = 200,000 loss

18. (5M x12% x 4/12) + (3M x 12% x 1/12) + (2M x 12% x 4/12) = 310,000

19. 10/31/23 Share Rights 200,000

Investment 200,000
10/31/23 Investment 600,000 (new)
Share Rights 200,000 (10,000 x P20)
Cash 400,000 (5,000 x P80)
Cost per share= 600,000/5,000= P120

20. Fair value, 12/31/2023 (7,200 shares x P30) 216,000

Less: Balance before adjustments (480T-360T+144T) (264,000)
(48,000)
4/30/2022
Investment-FVPL 400,000
Expense 20,000
Cash 420,000
12/31/2022
Investment- FVPL 80,000
 Unrealized gain 80,000

1/3/2023
Cash 396,000
Investment-FVPL 360,000 (9,000 x P40)
Gain on Sale 36,000
7/1/2023
MEMO ENTRY- Share split. Shares increased by 3,000.
9/30/2023
MEMO ENTRY- Shares increased by 1,200 (20% stock dividend)
11/1/2023
Investment-FVPL 144,000 (7,200 x P20)
Cash 144,000
12/15/2023
Dividend Receivable 72,000
Dividend income 72,000