In $20$X$1,$ FYY Ltd$.$ purchased $1,900$ shares of Humor Inc. for $$49,400$ plus $$1,900$ in commission. The shares had a fair value of

$$62,000$ at the end of $201,$$$69,400$ at the end of $202,$ and $$85,100$ at the end of $203.$ In $204,$ the shares were sold for $$75,700$

less $$1,900$ in commission. In each of $201,202,$ and $203,$ dividends of $$4,560$ were received.

Required:

Prepare journal entries for $201$ to $204,($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the

first account field.$)$

a$.$ Assuming FYY reports using ASPE and the cost method.

$1$Record the investment made in Humor Inc.

$2$Record the dividend income for $20$X$1.$

$3$Record the dividend income for $20$X$2.$

$4$Record the dividend income for $20$X$3.$

$5$Record the sale of investment.

b$.$ Assuming FYY reports using IFRS and the fair value through other comprehensive income method; realized amounts are transferred to retained earnings.

$1$Record the investment made in Humor Inc.

$2$Record the Investment revenue for $20$X$1.$

$3$Record the holding gain$/$loss on investment for $20$X$1.$

$4$Record the Investment revenue for $20$X$2.$

$5$Record the holding gain$/$loss on investment $20$X$2.$

$6$Record the Investment revenue for $20$X$3.$

$7$Record the holding gain$/$loss on investment for $20$X$3.$

$8$Record the sale of investment.

$9$Record the transfer of holding gain$/$loss balance to retained earnings.