Bramble Limited, a public company that follows IFRS and has a calendar year end, made the following purchases of investments in

Bramble intends to sell these investments to earn short$-$term profits from appreciation in their prices and accounts for the

investments using the FV$-$NI model. This is the first year in which Bramble invested in equity securities:

On March $20,$ purchased $4,500$ shares of Wu Inc. common shares at $$27$ per share plus commission of $$480.$

On August $15,$ purchased $3,200$ shares of Xi Inc. common shares at $$23$ per share plus commission of $$420.$

On June $30,$ Bramble sold $2,700$ shares of Wu Inc. at $$29$ less commission of $$600.$

The December $31,2023$ market value of the Wu shares was $$30$ and of the Xi shares was $$22.$

$($b$)$

Your answer is correct.

Prepare the journal entry for the sale of $2,700$ Wu Inc. shares on June $30,2023.($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 $0$ for the amounts. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

June $30,$

$2023$

Cash

FV$-$NI Investments

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

Debit

Credit

eTextbook and Media

List of Accounts

Your answer is partially correct.

Repeat part $($b$)$ assuming the investments are accounted for using FV$-$OCI without recycling. Bramble's policy is to reduce

proceeds on disposal for transaction costs. $($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.$)$

$($To adjust to fair value at date of disposal$)$

$($To record disposal$)$

Accumulated Other Comprehensive Income