Some of the account balances of Carla Vista Limited at December $31,2022,$ are as follows:

$$6$ Preferred shares $(2,200$ shares authorized, $2,200$ shares issued and outstanding$)$ $$520,000$

Common shares $($unlimited authorized. $48,000$ shares issued and outstanding$),530,000$

Contributed surplus

$106,000$

Retained earnings

$785,000$

Accumulated other comprehensive income

$23,124$

The price of the company's common shares has been increasing steadily on the market; it was $$22$ on January $1,2023,$ and advanced to $$25$ by July $1$ and to $$28$ at the end of $2023.$ The preferred shares are not openly traded but were appraised at $$121$ per share during $2023.$ Carla Vista follows IFRS and had net income of $$152,000$ during $2023.$ For the purpose of this question, ignore any dividend entitlement to the preferred shareholders.

The comparry deciared a property dividend on April $1$ Each common shareholder was to recrive one stare of Sandh inl Corn. for every $12$ shares cutstanding. Carla Vista mad B$,200$ stares of Sandhill $(2\%$ of the outstanding shares$)$ which it had purchased in$!2018$ for $$68,962$ The shares are accounted for usige the FVVCI model. The accumalated ather comprehensive income relates only to these shares. The fair value of the Sandhill shares was $517$ ner share on April $1$ The property dividend was distributed an Anril $21$ when the fair value of the Sandhill shares was $$19\mathrm{.}00.$ The Sondh shll shares remained at a fair value of $$19.00$ until year end.

Prepare the journal entries $($Listar debit entries before credit entries. Credit occount tities are autamatically indented when the omount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the acoount tilles and enter O for the amounts, Round answers to $$ decimal places es$.5,275.$ Do not round intermediate calculations. Record entries in the order dispiayed in the problem statement$)$

Dehit

Credit

Date Account Titles and Explanation

Aer. $21$

AccumblatalQCi $$

$q,$

FV$.$CCllnvestmems $$

$$

$$

$$

$$ Property Dividends Payalie

$$

$($To record declaration of property dividend$)$

$$

$$

$($To reclassify holding gain$)$

$$

$q,$

$$

$$

$$

$q,$

$q,$

$q,$

$$

$$