11, please answer last part. thanks. Prepare Pina Colada general journal entry to record the sale of the David Jones shares. (Credit account titles are automaticallyindented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O forthe amounts. List all debit entries before credit entries.)(c)Account Titles and ExplanationCashLoss on Disposal of Investments FV-NIFV-NI InvestmentseTextbook and MediaSolutionList of AccountsDebitAccount Titles and Explanation93500Debit12500CreditPrepare Pina Colada general journal entry to record the purchase of the Oberto shares. (Credit account titles are automaticallyindented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O forthe amounts. List all debit entries before credit entries.)106000CreditAssistance UsedAttempts: 3 of 3 used Pina Colada Corporation, a Canadian-based international company that follows IFRS, has the following securities in its portfolio ofinvestments acquired for trading purposes and accounted for using the FV-NI method on December 31, 2022:Investments2,000 shares of David Jones Inc., common5,600 shares of Hearn Corp., common380 shares of Alessandro Inc., preferredMar. 1Apr. 1In 2023, Pina Colada completed the following securities transactions:Investments5,600 shares of Hearn Corp., common800 shares of Oberto Ltd., common380 shares of Alessandro Inc., preferred(a)Carrying Amount(before adjustment)$111,000207,200Your Answer Correct Answer (Used)$371,400Account Titles and ExplanationSold the 2,000 common shares of David Jones at $47 per share, less fees of $500.Bought 800 common shares of Oberto Ltd. at $71 per share, plus fees of $1,400.Pina Colada's portfolio of trading securities appeared as follows on December 31, 2023:Investment Income or Loss53,200FV-NI InvestmentsOriginal Cost$207,20056,80053,200Fair Value$317,200$106,000200,600$361,300Fair Value$200,600Assume that the company does not recognize and report dividends and other components of investment gains and losses separately.54,70054,50050,100$305,200Prepare Pina Colada general journal entry to record the adjusting entry for December 31, 2022. (Credit account titles areautomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titlesand enter o for the amounts. List debit entry before credit entry.)Debit10,100Credit10,100

Name: 11, please answer last part. thanks. Prepare Pina Colada general journ
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Description: 11, please answer last part. thanks. Prepare Pina Colada general journal entry to record the sale of the David Jones shares. (Credit account titles are automaticallyindented when the amount is entered. Do not indent manually. If no entry is required,

Fair value through net income (FV-NI) is an accounting method used to value certain financial assets…

Business

Accounting

(c) Prepare Pina Colada general journal entry to record the purchase of the Oberto shares. (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 O for the amounts. List all debit entries before credit entries.)

(c) Prepare Pina Colada general journal entry to record the purchase of the Oberto shares. (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 O for the amounts. List all debit entries before credit entries.)

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter15: Investments And Fair Value Accounting

Section: Chapter Questions

Problem 15E

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