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Soap LLC has decided to sell all of its shares on 1st March 2018. Each share of Chawal LLC was sold for OMR 3 per

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Soap LLC has decided to sell all of its shares on 1st March 2018. Each share of Chawal LLC was sold for OMR 3 per share. Other than that, at the time of sale the transaction cost which Soap LLC paid is OMR 550. Journal Entries are required to be passed in books of Soap LLC. (6 Marks) BETA limited has decided to buy 3,000 shares of ALPHA limited and the cost to buy one share is OMR 3. This transaction was settled on 1 January 2018 and at that time OMR 0.1 was paid as a transaction cost for every share. When the shares were purchased by BETA limited they decided to keep these shares as held for trading. ALPHA limited shares market value was decreased from OMR 3 to OMR 2 for every share. Dividend is declared and paid, and the share of BETA limited in the total dividend is OMR 3,000 On April 30, 2019 all the shares are sold for OMR 12,000 and total transaction cost is OMR 300, Journal entries needs to be prepared in the books of BETA Limited (4 Marks)

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