Blue Spruce Corporation made the following purchases of investments during $2023,$ the first year in which Blue Spruce invested in

equity securities:

On January $15,$ it purchased $12,240$ shares of Nirmala Corp.$\text{'}$s common shares at $$45\mathrm{.}60$ per share plus commission of $$2,694.$

On April $1,$ it purchased $6,800$ shares of Oxana Corp.$\text{'}$s common shares at $$71$ per share plus commission of $$4,583.$

On September $10,$ it purchased $9,520$ shares of WTA Corp.$\text{'}$s preferred shares at $$36\mathrm{.}60$ per share plus commission of $$3,958.$

On May $20,2023,$ Blue Spruce sold $4,080$ of the Nirmala common shares at a market price of $$48$ per share less brokerage

commissions of $$3,876.$ The year$-$end fair values per share were as follows: Nirmala $$41,$ Oxana $$75,$ and WTA $$38.$ The chief

accountant of Blue Spruce tells you that Blue Spruce holds these investments with the intention of selling them to earn short$-$term

profits from appreciation in their prices and accounts for them using the FV$-$NI model.

Blue Spruce follows IFRS.

$($a$)$

Your answer is correct.

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 O for the amounts. Record entries

in the order displayed in the problem statement. List all debit entries before credit entries.$)$

$3$te

Account Titles and Explanation

Debit

Credit

FV$-$NI Investments

Commission Expense

FV$-$NI Investments Your answer is correct.

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. Record entries

in the order displayed in the problem statement. List all debit entries before credit entries.$)$

Commission Expense

Cash

FV$-$NI Investments

Commission Expense

Cash

$487383$

FV$-$NI Investments

Commission Expense

$352390$ Your answer is correct.

Prepare the journal entry for the sale of the $4,080$ 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.

List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

May $20$

FV$-$NI Investments

Gain on Disposal of Investments $-$ FV$-$NI

eTextbook and Media

List of Accounts

Attempts: $1$ of $4$ used

$($c$)$

Your answer is partially correct.

Prepare the adjusting entry needed on December $31,2023.($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 O for the amounts. List debit entry

before credit entry.$)$

Date

Account Titles and Explanation

Debit

Credit

Dec. $31$

FV$-$NI Investments

GIVE ME THE ANSWER TO C