Question
On June 12, 2019, Minute Company purchased 1,000 shares of Second Company for a total of $18,250 and designated the shares as a FVOCI investment.
On June 12, 2019, Minute Company purchased 1,000 shares of Second Company for a total of $18,250 and designated the shares as a FVOCI investment.
On September 30, 2019, Minute received a dividend of 25 cents per share.
On December 18, 2019, the shares were sold for $19,100.
Required
Provide all the journal entries for the above events. Hint: you need four journal entries.
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Financial Accounting IFRS Principles
Authors: Ilse Lubbe, Goolam Modack, Shelly Herbert
5th Edition
0190746920, 978-0190746926
