Hi,

Can you help me with this practice quiz problem?

Much appreicated!

(d) On June 30, 20x5, the Lanz Corporation purchased 1,600 shares of James Inc. for $36 per share. Dividends and share prices for James for 20x5 and 20x6 are as follows: Dividend per Fair Value share paid per Share Dec 31, 20x5 $1.50 $42 Dec 31, 20x6 33 Assuming that Lanz classifies the shares as FVTOCI, prepare the journal entries at December 31, 20x5 and 20x6. (3 marks) (d) On June 30, 20x5, the Lanz Corporation purchased 1,600 shares of James Inc. for $36 per share. Dividends and share prices for James for 20x5 and 20x6 are as follows: Dividend per Fair Value share paid per Share Dec 31, 20x5 $1.50 $42 Dec 31, 20x6 33 Assuming that Lanz classifies the shares as FVTOCI, prepare the journal entries at December 31, 20x5 and 20x6