Question $2$

Kaur Corp. provided you with the following information about its investment in Gold Corp. shares purchased in June $2021$ and accounted for using the $FV-$OCl method:

$\backslash$table$[[,$ocan Stock Photo$],[$Cost$,50,000],[$Fair value, December $31,2022,70,000],[$Fair value, December $31,2023,65,000]]$

i$.$ Prepare the adjusting journal entries needed for December $31,2022$ and December $31,2023.$

$31-$Dec$-22$

Dr$.$

Cr$.$

$31-$Dec$-23$

Dr$.$

$Cr.$

ii$.$ Determine amount in accumulated other comprehensive income on the statement of financial position on December $31,2022$ and December $31,2023.$

Shareholders' Equity

Accumulated Other Comprehensive Income

Bource: Clipart Panda