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How much should the new investment be measured

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Question - On January 1, 20X1, ABC acquired 20,000 ordinary shares from XYZ with P100 par value for P105 per share to be held for trading. ABC paid P50,000 transaction cost relative to the acquisition of these shares. At year end, when the market value per share is P107, ABC decided to change its business model requiring it to present the changes in fair value thru other comprehensive income. On December 31, 20X2, the fair value turns P108. On the reclassification date, how much should the new investment be measured at if this is allowed?

Reference no: EM132977935

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