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During Y2, Aylmer Inc. purchased the following investments for cash but incorrectly recorded them as Other Investments on the balance sheet. AyImer follows IFRS. REQUIRED

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During Y2, Aylmer Inc. purchased the following investments for cash but incorrectly recorded them as "Other Investments" on the balance sheet. AyImer follows IFRS. REQUIRED 1 Prepare the entry to correct the above amounts from "Other Investments" to the appropriate accounts assuming that the common shares are classified as FV-Nl, the investment in London represents significant influence and the bonds are classified as FV-OCl. 2 Prepare the entry to accrued interest income at December 31. 3 Prepare necessary revluation entries given the following fair values: \begin{tabular}{|l|ll} \hline Belmont Limited & $ & 253,083 \\ \hline Lyons Inc. & $ & 115,312 \\ \hline Calton Corp. & $ & 148,600 \\ \hline \end{tabular} 4 Prepare any required entries given the following Y2 information for London Inc: 5 Report the appropriate balances on the December 31,Y2 balance sheet for the above information. 6 After interest was received, the Lyons Inc bonds were sold on April 30,Y3 for $124,500. Prepare the appropriate entry(ies)

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