Powerpuff Company purchased the following securities during 2019, all of which are classified as financial assets at fair value through profit or loss. April. 1 100 of 10%, 10,000 face value Peach Company bonds due April 1, 2029; interest is payable April 1 and October 1. The bonds were purchased at 101. July. 1 Buttercup Corporation 12% bonds; P150,000 face value, dated March 1, 2019, purchased at face value plus accrued interest. Interest is payable annually on March 1; the bonds are due on March 1, 2029. The fair values at December 31, 2019 are as follows; Peach Company bonds 99% Buttercup Corporation bonds 102%

Required: Provide the carrying value of all securities as of December 31, 2019.

Answer rating: 100% (QA)

Date Account Titles Explanation Debit Credit 11 12 01Feb ... View the full answer