Trading in shares LO9 Pedro Ltd is an investment company that trades in shares on

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Trading in shares   LO9 Pedro Ltd is an investment company that trades in shares on the Australian Securities Exchange. Pedro Ltd measures the shares at fair value through the profit or loss. Pedro Ltd makes the following trades in Telstra Corporation Limited. Trade date Quantity Price Buy/Sell Brokerage 8 June 2019 10 000 $5.00 Buy $500 15 June 2019 40 000 $5.20 Buy $800 30 June 2019 20 000 $4.50 Sell $400 Settlement date is T+2 meaning that settlement of trades occurs two business days after trade date. The closing market price for shares in Telstra at 30 June 2019 is $4.60. Required Prepare the entries of Pedro Ltd on the basis of: 1. trade date accounting 2. settlement date accounting.

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