1. It also owns two financial asset investments in the shares of two listed companies. The details are given below:

Investment in company A- Invested in shares on 1^st June 2019 at a cost of RO 60,000 for the purpose of sale. Its fair value at the end of the year is RO50,000

Investment in company B- Invested RO 20,000 to hold forever. Its fair value on 31^st December 2019 is RO 25,000

1. What are the amounts that will appear in the Financial Statements of the company? (2 marks)

2. An investment which is classified as held for sale is currently valued under the revaluation model is RO 700,000. Its latest fair value is RO 600,000 and the assessed costs for selling the asset are RO10,000.

1. Illustrate how this transaction would be recorded in the financial statements.(2 marks)

3. The phoenix group held 100,000 shares of XYZ ltd on 30^th September 2019 costing RO 420,000 and spent RO 10,000 for the purchase. The shares were purchased for trading. On 31^st December 2019, the fair value of a share was RO 5.10. (2 marks)

1. Show how it will appear in the financial statements of the company during the year ended 31^st December 2019? (2 marks)