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Prepare the journal entries

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Reference no: EM132780607

Question - ABC Company has the following transactions relating to its Investment during the year:

January 5 - Acquired 16,000 shares of XYZ Company for Php 1,500,000 paying additional Php 15,000 for brokerage and another Php 5,000 for commission.

Received dividends from XYZ Company declared January 10 to stockholders on record of January 31, 2018 at Php 16,000

Required - Prepare the journal entries assuming:

1. Financial asset is measured through profit or loss.

2. Financial asset is measured through other comprehensive income.

Reference no: EM132780607

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