Each of the following questions relate to independent situations: a) XYZ Ltd is an investment company that trades in shares on the Australian Securities Exchange. XYZ Ltd values its equity instruments (shares) at fair value through the profit and loss account using settlement date accounting. Settlement date is T+2, meaning that settlement of trades occurs two business days after trade date. During the year ended 30 June 2022, XYZ Ltd made the following share trades in Win Ltd, a well-known public listed company: Trade date Quantity Price/share Action Brokerage fees 8/1/22 80,000 $10 Buy $500 20/1/22 45,000 $10 Buy $400 6/5/22 40,000 $12 Sell $500 28/6/22 25,000 $16 Sell $300 The closing market price of Win Ltd shares on 30 June 2022 was $15.00. Required: Prepare the journal entries (on the basis of settlement date accounting) necessary for XYZ Ltd to record the above trades in Win Ltd shares for the year ended 30 June 2021. (Show all workings and narrations). (13 marks) b) On 1 March 2021, Silver Ltd takes a sell position on 100 units of ASX SPI 200 Futures. Each contract unit is valued at $20 per index point. The ASX SPI Futures Index is 6200 on 1 March 2021, 6800 on 30 June 2021 and 5900 on 22 September 2021 when the company closes out its position. Required: Prepare the journal entries of Silver Ltd for the initial and subsequent measurement of its contract for 100 units of ASX SPI 200 Futures. (Show all workings). (7 marks)