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Investco is a trading firm and has Dec 3 1 as its annual closing date. On Oct 1 7 th of 2 0 1 9

Investco is a trading firm and has Dec 31 as its annual closing date. On Oct 17th of 2019, it had
purchased 5000 shares at $14 each. The share value on Dec. 31,2019 was $12. Due to Covid and
lockdown, the share value on Dec 31,2020 was further down to $9. Markets recovered a
little in 2021 and the price as of Dec 31,2021 was $11. Markets further recovered and by
end of 2022, the price was $15. He sold the entire quantity in March 2023 at $17.
Please provide the necessary journal entries to record the purchase, changes in investment
and sale of their investment, assuming this investment was categorized as FVTPL.

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