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when you answer the debit sideplease use the words I give you in the last three pages On 30 June 20x2, King Ltd. purchased 13,000
when you answer the debit sideplease use the words I give you in the last three pages On 30 June 20x2, King Ltd. purchased 13,000 shares of Prince Inc. for $41,600 plus $1,300 in commission. In 20x2, the company received a $650 of dividends, and the shares had a fair value of $46,800 at the end of the year. In 20x3, there were no dividends and the shares were sold for $54,600 less a $520 commission Required: 1. Prepare Journal entries for 20x2 and 20x3: (if no entry is required for a transaction/event, select "No Journal entry required" in the first account field.) a. Assuming King reports under ASPE and has chosen the cost method. a. Assuming King reports under ASPE and has chosen the cost method. View transaction list Journal entry worksheet 1 N 3 > Record the investment made in Prince Inc. Note: Enter debits before credits. General Journal Debit Credit Transaction 20X2 Record entry Clear entry View general journal Journal entry worksheet Record the sale of investment. Note: Enter debits before credits. General Journal Debit Credit Transaction 20x3 Record entry Clear entry View general journal b. Assuming King reports under IFRS and classified the investment as fair-value-through-profit-or-loss. View transaction list Journal entry worksheet 1 2 2 3 3 4 Record the Purchase of Investment. Note: Enter debits before credits. General Journal Debit Credit Transaction 20x2 Record entry Clear entry View general journal b. Assuming King reports under IFRS and classified the investment as fair-value-through-profit-or-loss. View transaction list Journal entry worksheet N 3 4 Record the Investment Revenue. Note: Enter debits before credits. General Journal Debit Credit Transaction 20X2 Record entry Clear entry View general journal b. Assuming King reports under IFRS and classified the investment as fair-value-through-profit-or-loss. View transaction list Journal entry worksheet 1 2 3 4 Record the Holding Gain/Loss. Note: Enter debits before credits. Transaction General Journal Debit Credit 20X2 Record entry Clear entry Vlow general Journal b. Assuming King reports under IFRS and classified the investment as fair-value-through-profit-or-loss. View transaction list Journal entry worksheet
when you answer the debit sideplease use the words I give you in the last three pages
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