FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Sisman Bhd invested RM1,000,000 in purchasing ordinary shares as available for sale financial assets (AFS). It is proposed that on 1 February 2020, company purchases

Sisman Bhd invested RM1,000,000 in purchasing ordinary shares as available for sale financial assets (AFS). It is proposed that on 1 February 2020, company purchases 100,000 ordinary shares of XNX Bhd for RM10.00 per share (including transaction cost). On 31 December 2020, Sisman Bhd is expected to receive a cash dividend of RM55,000 on its investment.

  1. Prepare the journal entries for the available for sale financial asset.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

=+6. For which one of the following situations would a Kruskal-Wallace test be appropriate?

Answered: 1 week ago

Question

★★★★★
Cardinal Company is considering an investment expected to generate an average net income after taxes of $1,300 for three years. The investment costs $30,000 and has an estimated $4,000 salvage value...

Answered: 1 week ago

Question

★★★★★
Copley Company has 2,000 shares of 7%, $300 par value cumulative preferred stock outstanding. No dividends were paid in Year 1, but in Year 2 Copley Company declares and pays dividends totaling...

Answered: 1 week ago

Question

★★★★★
QUESTION 1 2 When using a For loop, you must remember to add a statement inside the loop to increment or decrement the loop's counter variable. If you forget this, you'll have an endless loop. True...

Answered: 1 week ago

Question

★★★★★
Mr. Dizon would like to determine the average daily allowance of Harvard students What is the: Population VAriable of interest Type of variable (quantitative or qualitative) The Harvard marketing...

Answered: 1 week ago

Question

★★★★★
Scenario #1 A manufacturer advertises that its hand sanitizer kills the "Covid-19 virus on contact." The manufacturer has tested its hand sanitizer for effectiveness against other viruses, but not...

Answered: 1 week ago

Question

★★★★★
The Dallas Morning News reported the findings of a study by the Department of Transportation that examined the effect on average airfares when new, low priced carriers, such as Southwest Airlines or...

Answered: 1 week ago

Question

★★★★★
Alison, Blanca, Jaime, and Cuong are still relatively new employees at Deloitte. At least once a week, they use their workstation computers to watch videos of lectures or how-to guides, play games...

Answered: 1 week ago

Previous Question Next Question