The following information is available about Marigold Corp.s investments at December 31, 2020. This is the first year Marigold has purchased securities for investment purposes.

Securities

Cost

Fair Value

3,010 shares of Petra Corporation common shares

$42,140 $50,840

900 shares of Dugald Inc. preferred shares

26,100 23,000

$68,240 $73,840

1. Assume that Marigold Corp. follows IFRS.

Prepare the adjusting entry for December 31, 2020, assuming the investments are acquired for trading purposes and accounted for using the FV-NI model with no separate reporting of dividends and other types of FV-NI investment income and losses. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

2. Prepare the adjusting entry for December 31, 2020, assuming the investments are accounted for using the FV-OCI model. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

-/10 = View Policies Current Attempt in Progress Cost The following information is available about Marigold Corp's investments at December 31, 2020. This is the first year Marigold has purchased securities for investment purposes. Securities Fair Value 3,010 shares of Petra Corporation common shares $42,140 $50,840 900 shares of Dugald Inc. preferred shares 26,100 23,000 $68,240 $73,840 Assume that Marigold Corp. follows IFRS Prepare the adjusting entry for December 31, 2020, assuming the investments are acquired for trading purposes and accounted for using the FV-Nl model with no separate reporting of dividends and other types of FV.Nl investment income and losses (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Account Titles and Explanation e Textbook and Media 1 ist of Accounts Prepare the adjusting entry for December 31, 2020, assuming the investments are accounted for using the FV-OCI model (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Credit Account Titles and Explanation