Question
On 5 December 20X4, Drumroll purchased 300 shares of Elder Inc, a public company for $89 per share plus $750 in brokerage fees. The fair
On 5 December 20X4, Drumroll purchased 300 shares of Elder Inc, a public company for $89 per share plus $750 in brokerage fees. The fair value of Elder on 31 December was $85.
On 15 January 20X5, Elder paid $0.15 per share in dividends.
Drumroll sold the shares on 15 March 20X5 for $102 per share.
Drumroll classifies the shares as FVOCI.
Required:
Prepare the journal entries required in 20X4 and 20X5 for Drumroll
pls answer as soon as possible
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Cost And Management Accounting An Introduction
Authors: Colin Drury
7th Edition
1408032139, 978-1408032138
