On October 1, Jaskaran Corp. purchased a 7% bond with a face value of $ 1,000 for trading purposes, accounting for the investment at fair value through net income. The bond was priced at 1.023 to yield Jaskaran 5%, and pays interest annually each October 1. Jaskaran has a December 31 year end, and at this date, the bond's fair value was $ 1,050. Assume Jaskaran applies IFRS and follows a policy of not reporting interest income separately from investment income. Instructions a) Prepare Jaskaran's entry for the purchase of the investment. b) Prepare Jaskaran's entry for the December 31 interest accrual. c) () Prepare Jaskaran's entry for the year-end fair value adjustment (11) Assume Jaskaran applies ASPE, uses the effective-interest method, and follows a policy of reporting interest income separately. b) Vancouver Inc. is considering purchasing the net assets of Victoria Corporation. Following is the statement of financial position of Victoria Corporation as at December 31, 2020. VICTORIA CORPORATION Statement of Financial Position As at December 31, 2020 Current assets Buildings and equipment Accumulated amortization Land Total assets Current liabilities Common shares Retained earnings Total liabilities and equity $ 231,400 753,000 (113,000) 173,000 $ 1,044,400 $ 187,000 577,000 280,400 $ 1,044,400 Following are the fair values of Victoria's net assets as at December 31, 2020. Current assets Buildings and equipment Land Current liabilities $ 225,500 482,600 313,500 (166.300 5 855,300 Instructions: Calculate the value of goodwill that would be recorded by Vancouver if it offered S 2,060,300 for the net assets of Victoria Corporation inn