Ayayai Corporation made the following purchases of investments during 2020, the first year in which Ayayai invested in equity securities:

1.		On January 15, purchased 9,450 shares of Nirmala Corp.s common shares at $35.20 per share plus commission of $2,079.
2.		On April 1, purchased 5,250 shares of Oxana Corp.s common shares at $55 per share plus commission of $3,539.
3.		On September 10, purchased 7,350 shares of WTA Corp.s preferred shares at $27.80 per share plus commission of $3,056.

On May 20, 2020, Ayayai sold 3,150 of the Nirmala common shares at a market price of $37 per share less brokerage commissions of $2,993. The year-end fair values per share were as follows: Nirmala $32, Oxana $58, and WTA $29. The chief accountant of Ayayai tells you that Ayayai Corporation holds these investments with the intention of selling them in order to earn short-term profits from appreciation in their prices and accounts for them using the FV-NI model. Assume that Ayayai Corporation follows IFRS 9.

1) Prepare the journal entries to record the three investments. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

2) Prepare the journal entry for the sale of the 3,150 Nirmala shares on May 20. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

3) Prepare the adjusting entry needed on December 31, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31

4) Repeat the parts above, assuming the investments are accounted for using FV-OCI with no recycling. Ayayais policy is to capitalize transaction costs on the acquisition of FV-OCI investments and reduce the proceeds on disposal. In addition, the company reclassifies any gains or losses on disposition to Retained Earnings. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

	Date	Account Titles and Explanation	Debit	Credit
(a)	Jan. 15 / Apr. 1 / May 20 / Sep. 10 / Dec. 31
	Jan. 15 / Apr. 1 / May 20 / Sep. 10 / Dec. 31
	Jan. 15 / Apr. 1 / May 20 / Sep. 10 / Dec. 31
(b)	Jan. 15 / Apr. 1 / May 20 / Sep. 10 / Dec. 31
		(To adjust to fair value at date of disposal)
	Jan. 15 / Apr. 1 / May 20 / Sep. 10 / Dec. 31
		(To record disposal)
	Jan. 15 / Apr. 1 / May 20 / Sep. 10 / Dec. 31
		(To reclassify holding gain)
(c)	Jan. 15 / Apr. 1 / May 20 / Sep. 10 / Dec. 31

5) What is the amount that will be reported as other comprehensive income for the year ended December 31, 2020? Show the wording that would appear on the comprehensive income statement. (If an amount reduces the account balance then enter with negative sign.)

Other Comprehensive Income

Items that may not be reclassified subsequently to net income

Holding losses arising during the year: $ ?

Fair value adjustment May 20 On Nirmala Corp. shares sold: $ ?

Year end fair value adjustment for portfolio: $ ?

Total: $ ?

6) What will be the balance in Accumulated Other Comprehensive Income on December 31, 2020? (If an amount reduces the account balance then enter with negative sign.)

Balance of Accumulated Other Comprehensive Income:

Beginning balance: $ ?

Other comprehensive income for 2020: $ ?

Less: Reclassification adjustment: $ ?

Ending balance December 31, 2020: $ ?

PLEASE JUST HELP ME GIVE SOLUTION FOR QUESTION 3,4,5,6 !

MANY THANKS!