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question 4 Question 4 (7 points) On April 15, 2020, Twilight Corporation, a company that follows IFRS, purchases 20,000 common shares of Daylight Company at
question 4 
Question 4 (7 points) On April 15, 2020, Twilight Corporation, a company that follows IFRS, purchases 20,000 common shares of Daylight Company at a total cost of $250,000. The investment is accounted for under the fair value through other comprehensive income (FV-OCI) without recycling model. On December 31, 2020, the market price for each common share of Daylight Company is $15. Twilight sells the Daylight Company shares on July 17, 2021 for $17 per share. Twilight Corporation has a December 31 year end. Required: Prepare the journal entries for Twilight's investment in Daylight Company for 2020 and 2021
question 4
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Managerial Accounting Tools for business decision making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
5th edition
470506954, 471345881, 978-0470506950, 9780471345886, 978-0470477144
