On January 1, 2020, ABC Co. paid $800,000 to acquire common shares of XYZ Co., which represented 30% of XYZ Co.'s shares outstanding. The value of XYZ's net assets was $1,850,000 on that date. The excess of the purchase price over ABC's share of XYZ's net assets is attributed to unrecorded intangibles with a 20-year life. XYZ earned net income and comprehensive income of $400,000 in 2020 and paid dividends of $80,000. The investment in XYZ had a fair value of $1,025,000 at December 31, 2020. XYZ incurred a net loss and comprehensive loss of $425,000 in 2021 and paid no dividends. At December 31, 2021, the fair value of the investment was $720,000 and the recoverable amount was $765,000. Assume that ABC follows IFRS.

(1)Give all the journal entries that ABC is required to make related to the XYZ shares in 2020 and 2021, assuming ABC has no significant influence over XYZ, and uses the FV-NI model for the investment.

(2) Give all the journal entries that ABC is required to make related to the XYZ shares in 2020 and 2021, assuming ABC exercises significant influence over the investee.