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duering Y 2 Aylmer Inc. purchased the following investments for cash but incorrectly recorded them Other Investments on the balance sheet follows IFRS 1 5

duering Y2 Aylmer Inc. purchased the following investments for cash but incorrectly recorded them Other Investments on the balance sheet follows IFRS 158,203 January 112 Purchased 23,000 of 100,000 shares outstanding of London March 31, Belmont Limited, 10,000 common shares April 30 Lyons bonds $100,000 bonds Interest is paid April 30 and October 3155221,484100,000 REQUIRED 1 Prepare the entry to correct the above amounts from Other investments to the appropriate accounts assuming that she common shares are classed as FV the investment in London represents significant influence and the bonds are classified as Prepare the entry
to accrued interest income at December 31 Prepare necessary revtuation entries given the following fair values Belmont Limited 246,093115,3124 Prepare any required entries given the following Y2 information for London Inc Net income for the year 184,570 dividends paid 110,742 Number of employees 26 Repon the appropriate balances on the December , Y2 balance sheet for the above information After interest was received, the Lyons Inc bonds were sold on April 30, for $124,500. Prepare the appropriate entryies)

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