On January25, 2020, Trudeau Ltd. purchased 500 common shares of DBC (DundeeBankofCanada) for $80 each. During the

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On January25, 2020, Trudeau Ltd. purchased 500 common shares of DBC (DundeeBankofCanada) for $80 each. During the remainder of 2020, Trudeau received $1.25/share in dividends and DBC's earnings per share were $5.75. The closing price of the shares on the fiscalyear-end date of December31, 2020, was $87.

Required

Assume that Trudeau made the irrevocable election to measure the investment at fair value through OCI.

At what value should Trudeau report the DBC shares on its December31, 2020, balancesheet?

How much income should Trudeau report in relation to theseshares?

How much other comprehensive income(OCI) should Trudeau report in relation to theseshares?

Posted Date: Jun 22, 2024 06:07 PM

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On January25, 2020, Trudeau Ltd. purchased 500 common shares of DBC (DundeeBankofCanada) for $80 each. During the

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