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7 An equity investment is purchased for $ 30,000 plus 1% transaction costs on 1 January 2016 It is classified as at fair value through

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7 An equity investment is purchased for $ 30,000 plus 1% transaction costs on 1 January 2016 It is classified as at fair value through OCI. At the end of the financial year (31 December) the investment is revalued to its fair value of $40,000. On 11 December 2017 it is sold for $50,000. Required Explain the accounting treatment for this investment

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