On aug 1, 2022 Lid Ltd purchased 1100 Agnus common shares for 44300 cash, with intetion of trading shares and using fair value through profit or loss model.on dec 1,2022 Lid's year end, the fair value of the Agnus share was 48600. Lid sol dthe shares on Feb 1, 203 for 46400. Record journal enries required for the above transaction

On aug 1, 2022 Lid Ltd purchased 1100 Agnus common shares for 44300 cash, with intetion of trading shares and using fair value through profit or loss model.on dec 1,2022 Lid's year end, the fair value of the Agnus share was 48600. Lid sol dthe shares on Feb 1, 203 for 46400. Record journal enries required for the above transaction

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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