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During 2 0 2 3 , ANTI Company invested excess cash in the shares of other companies. During 2023, ANTI Company invested excess cash in
During ANTI Company invested excess cash in the shares of other companies.
During 2023, ANTI Company invested excess cash in the shares of other companies Purchase price in 2023 Commission fees-purchase Fair value on Dec 31, 2023 Investment 1 Investment 2 Investment 3 Investment 4 $120,000 51,000 65,000 25,000 $500 300 600 200 $135,000 62,000 76,000 36,000 1) 2) 3) All these investments are classified as Fair Value Through Other Comprehensive Income (FV-OCI). Prepare all the required journal entries related to these investments in 2023 Investment 2 was sold in 2024 as follows: Investment 2 Selling price 80,000 $ Commission paid 360 Prepare the required journal entries to record the sale of this investment. The fair values of the investments on hand on December 31, 2024 were as follows: Investment 1 Investment 3 Investment 4 Fair value on Dec 31, 2024 $95,000 58,000 59,000 Determine the balance of the Accumulated Other Comprehensive Income (AOCI) at the end of 2024 and spcify if it is a debit or credit balance.
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