Entity A invested in 38,600 shares of a listed company on 1 October 2019 at a cost of $3.95 per share.

On 31 December 2019, the shares have a market value of $3.45.

Entity A is not planning on selling these shares in the short term and elects to hold them as Fair Value through Other Comprehensive Income.

REQUIRED:

(1) Measure the amounts of the financial asset recognised in the Statement of Financial Position as at 31 December 2019.

(2) Measure the amounts recognised in the Statement of Profit or Loss for the financial asset of the year 2019.

(3) Measure the amounts of the Fair Value Reserve recognised in the Statement of Financial Position as at 31 December 2019.

ANSWERS:

(1) The answer = $

(2) The answer = $

(3) The answer = $ (If it is a gain of $10, enter 10. If it is a loss of $10, enter -10.)