Vought International Ltd is an investment company that trades in shares on the Australian Securities Exchange. Vought International Ltd values its equity instruments (shares) at fair value through the profit and loss account using settlement date accounting. Settlement date is T+3. During the year ended 30 June 2021, the company made the following share trades in InGen Ltd: Trade date Quantity Price/share Brokerage fees $300 7/1/20 40,000 18/1/21 25,000 $300 1/5/21 15,000 $45 $400 27/6/21 5,000 $46 $400 The closing market price of InGen Ltd shares on 30 June 2021 was $45.50. Required: i) ii) $40 $41 Action Buy Buy Sell Sell Prepare the journal entries necessary for Vought International Ltd to record the above trades in InGen Ltd.'s shares for the year ended 30 June 2021. Show all workings and narrations. (10 marks) Explain the difference between trade date accounting and settlement date accounting. (2 marks) Vought International Ltd is an investment company that trades in shares on the Australian Securities Exchange. Vought International Ltd values its equity instruments (shares) at fair value through the profit and loss account using settlement date accounting. Settlement date is T+3. During the year ended 30 June 2021, the company made the following share trades in InGen Ltd: Trade date Quantity Price/share Brokerage fees $300 7/1/20 40,000 18/1/21 25,000 $300 1/5/21 15,000 $45 $400 27/6/21 5,000 $46 $400 The closing market price of InGen Ltd shares on 30 June 2021 was $45.50. Required: i) ii) $40 $41 Action Buy Buy Sell Sell Prepare the journal entries necessary for Vought International Ltd to record the above trades in InGen Ltd.'s shares for the year ended 30 June 2021. Show all workings and narrations. (10 marks) Explain the difference between trade date accounting and settlement date accounting. (2 marks)