Purchase of shares in Patrick Ltd On 1 November 2021, City Ltd purchased 800 ordinary shares issued by Patrick Ltd, at the market price of $45.62 per share. Patrick Ltd had a total of 1,000,000 ordinary shares outstanding. City Ltd speculated that the share price of Patrick Ltd was likely to increase significantly over the next 6 months, and intended to make a capital gain by selling the shares in the near future. Purchase of shares in Ann Ltd On 1 January 2022, City Ltd purchased 500 ordinary shares issued by Ann Ltd, at the market price of $37.84 per share. Ann Ltd had a total of 500,000 ordinary shares outstanding. City Ltd intended to hold the shares in Ann Ltd for the purpose of receiving dividends in the long term. Other costs associated with each share purchase were incurred on the day of the share purchase as detailed below (brokerage costs were invoiced to the purchasing firm on the date of purchase. stamp duty fees were paid in cash on the date of purchase, and employee salaries were accrued to be paid on a fortnightly basis): 2021) Ltd (1 January 2022) Brokerage costs 1,825 946 Stamp duty 1,095 568 Salaries attributable to employee time spent on evaluating the purchases 274 142 On 30 June 2022, Patrick Ltd's shares were trading at $56.73 per share. Ann Ltd's shares were trading at $39.84 per share. Required: Prepare all journal entries recorded in City Ltd's financial records in relation to its share investments in DatrickdandAdN02 lauda2022 Purchase of shares in Patrick Ltd On 1 November 2021, City Ltd purchased 800 ordinary shares issued by Patrick Ltd, at the market price of $45.62 per share. Patrick Ltd had a total of 1,000,000 ordinary shares outstanding. City Ltd speculated that the share price of Patrick Ltd was likely to increase significantly over the next 6 months, and intended to make a capital gain by selling the shares in the near future. Purchase of shares in Ann Ltd On 1 January 2022, City Ltd purchased 500 ordinary shares issued by Ann Ltd, at the market price of $37.84 per share. Ann Ltd had a total of 500,000 ordinary shares outstanding. City Ltd intended to hold the shares in Ann Ltd for the purpose of receiving dividends in the long term. Other costs associated with each share purchase were incurred on the day of the share purchase as detailed below (brokerage costs were invoiced to the purchasing firm on the date of purchase. stamp duty fees were paid in cash on the date of purchase, and employee salaries were accrued to be paid on a fortnightly basis): 2021) Ltd (1 January 2022) Brokerage costs 1,825 946 Stamp duty 1,095 568 Salaries attributable to employee time spent on evaluating the purchases 274 142 On 30 June 2022, Patrick Ltd's shares were trading at $56.73 per share. Ann Ltd's shares were trading at $39.84 per share. Required: Prepare all journal entries recorded in City Ltd's financial records in relation to its share investments in DatrickdandAdN02 lauda2022