Entity A has purchased an investment of 15,000 shares on 1 August 2019 at a cost of $6.50 each.

Entity A intends to sell these shares in the short term, and are holding them for trading purposes. Transaction costs on the purchase amounted to $1,500.

At the year-end of 30 September 2019, these shares were now worth $7.75 each.

On 15 October 2019, these shares were worth $7.50 each. All shares were sold at $125,600.

REQUIRED:

Provide journal entries for Entity A from 1 August 2019 to 15 October 2019 in accordance with relevant accounting standards.

ACCOUNT NAMES FOR INPUT:

| Financial asset | Financial liability | Equity instrument | Transaction cost | Bank |

| Gain on measurement | Loss on measurement | Payable | Receivable | Other income | Other expense |

| Interest expense | Interest revenue | Loss on disposal | Gain on disposal | Retained earnings | No entry |

ANSWERS:

Journal Entries:

Date	Account Name	Debit ($)	Credit ($)	Hints For Sequence
1-Aug-19
				Judge Dr/Cr side
				Judge Dr/Cr side
30-Sep-19
				Judge Dr/Cr side
				Judge Dr/Cr side
15-Oct-19
				Judge Dr/Cr side
				Judge Dr/Cr side
				Judge Dr/Cr side
				Judge Dr/Cr side
				Judge Dr/Cr side

* Have to fill every blank of the table given (only can use the account names in the list)