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please help *OMR is the currency* Soap LLC is a company which has purchased 5,000 shares of Chawal LLC and it has been observed that
please help *OMR is the currency*
Soap LLC is a company which has purchased 5,000 shares of Chawal LLC and it has been observed that the shares were purchased on 1st January 2017. It has also been observed that the year for Soap LLC ends on every year 31st December. The shares purchased had a cost price of OMR 2 per share. At the time, when the shares were purchased Total OMR 600 were also paid as a transaction cost. This investment has been categorized as available for sale investment by Soap LLC. At the end of this year it was observed that the price was increased from 2 to 2.5 OMR per share. On the same date, dividend which was to be paid by the Chawal LLC is 0.8 for every share. Soap LLC has decided to sell all of its shares on 1st March 2018. Each share of Chawal LLC was sold for OMR 3 per share. Other than that, at the time of sale the transaction cost which Soap LLC paid is OMR 550. Journal Entries are required to be passed in books of Soap LLC. Marks)Step by Step Solution
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