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Please write the process of answering the questions and clearly mark the number of questions The following information relates to an equity investment of Charlotte
Please write the process of answering the questions and clearly mark the number of questions The following information relates to an equity investment of Charlotte Inc, a publicly accountable corporation that follows IFRS. The investment is accounted for using the FV-NI model. Dividend and interest income are not recorded or reported separately from other investment income accounts. i. On August 12th 3000 shares of Casino Ltd. Were acquired at a cost of $59 per share and a 1% commission was paid ii. On September 28th a dividend of $0.50 per share was received on the Casino Ltd. Shares ii. On December 31st, the Casino Shares had a fair value of $60.50 per share 1. Prepare the journal entries to account for the investment in Casino Ltd. f instead the company used the FV-OCI method to account for this method, prepare all the required journal entries
Please write the process of answering the questions and clearly mark the number of questions
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