View the step-by-step solution to:

Entity A invested in 20,000 shares of a listed company in Oct 2017 at a cost of $3.80 per share. At 31 Dec 2017 the shares have a market value of $3....

Entity A invested in 20,000 shares of a listed company in Oct 2017 at a cost of $3.80 per share. At 31 Dec 2017 the shares have a market value of $3.40. Entity A is not planning on selling these shares in the short term and elects to hold them as Fair Value Through Other Comprehensive Income.


Question:

What is the amounts will be recognised in the Statement of Profit or Loss for the financial asset as at 31 Dec 2017?

What is the amounts of the equity investment will be recognised in the Statement of Financial Position for the year-end of 2017?

What is the amounts of the fair value reserve will be recognised in the Statement of Financial Position for the year-end of 2017?

Top Answer

The best way to approach your question... View the full answer

Sign up to view the full answer

Other Answers

Statement of Loss/Profit will be 20,000*$3.8 = $76,000... View the full answer

What is the amounts will be recognized in the Statement of Profit or Loss for the financial asset as at 31 Dec 2017? Given... View the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online