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3:17 Ajman Co, has the following long-term investments: (1) Ordinary shares of Lulu Co. (10% ownership) held as non-trading securities; cost 110,000. Fair value 130,000.
3:17 Ajman Co, has the following long-term investments: (1) Ordinary shares of Lulu Co. (10% ownership) held as non-trading securities; cost 110,000. Fair value 130,000. (2) Ordinary shares of ABC Co. (30% ownership), cost 225,000, equity 300,000 REQUIRED: Prepare the investments section of the statement of financial position. 1 ir B IF
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