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On January 1 , 2 0 x 1 , Elijah purchased 3 , 0 0 0 ordinary shares of Elisha Co . at $ 4

On January 1,20x1, Elijah purchased 3,000 ordinary shares of Elisha Co. at $40,000. Fair value of the shares is $46,000 at the end of 20x1.
1. Present entries for 20x1, assuming the investment is classified as FVPL.
2. Present entries for 20x1, assuming the investment is classified as FVOCI.
3. Elijah sold Elishas shares at $36,000 on January 2,20x2. Present entries for the sale of Elishas shares, assuming the investment is classified as FVPL.
4. Elijah sold Elishas shares at $36,000 on January 2,20x2. Present entries for the sale of Elishas shares, assuming the investment is classified as FVOCI.

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