2 Problems

On January 1, 2022, an entity purchased the following \"non-trading" equity securities irrevocably designated as at fair value through other comprehensive income: Cost of investments are: Investment D at P1 M. Investment E at P2M and Investment F at P5M. Market values on December 31, 2022 were as follows: Investment D at P1 .5M, Investment E at P2.8M and Investment F at P4.1 M. On October 1, 2023 the entity sold Investment D for P1,900,000. This problem has two questions: - amount of investment presented in the 2022 statement of nancial position - net adjustment to retained earnings as a result of the disposal in 2023 What is the amount of net adjustment to retained earnings as a result of the disposal in 2023? 0 900,000 credit 0 900,000 debit Q 400,000 credit 0 400,000 debit On March 31, 2023, Czarina, Inc. declares cash dividends of P40 per share * : to shareholders of record on April 15, 2023 to be distributed on April 30, 2023. On April 26, 2023, Jerome Co. purchases 10,000 Czarina shares for P400 per share. The investment is classied as investment in equity securities measured at FVOCI. How much is the initial carrying amount of the investment in Jerome Co's statement of nancial position? 0 3,890,664 0 4,400,000 0 4,000,000 ~ 0 3,600,000