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Compute the carrying value of the investment

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Question - Paraiso held 40% interest in Delgado Corporation's 100,000 outstanding ordinary shares. By the end of 2019, its carrying value was P2,800,000. On January 2, 2020, Paraiso sold 30,000 shares at P3,000,000. On the same date, the quoted price of the said stock was P120 per share.

a. Compute the gain on sale?

b. Compute the gain from remeasurement?

c. Compute the carrying value of the investment?

Reference no: EM133081437

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