On January 1, 2020, Zen Company acquired trading securities with the following market value on December 31, 2020; and, on January 15, 2021, GHI ordinary shares sold 900,000. Cost Market DEF preference shares 200,000 220,000 GHI ordinary share 700,000 860,000 JKL ordinary share 1,000,000 900,000 PRS bonds 3,000,000 2,800,000 On December 31, 2021, the remaining trading securities have the following amount and market value; Carrying amount Market DEF preference shares 250,000 280,000 JKL ordinary share 1,200,000 1,300,000 PRS bonds 3,500,000 3,200,000 Required; Prepare journal entry for the following dates; a. Acquisition on January 1, 2020 b. December 31, 2020 c. January 15, 2021 d. December 31, 2021
On January 1, 2020, Zen Company acquired trading securities with the following market value on December 31, 2020; and, on January 15, 2021, GHI ordinary shares sold 900,000.
Cost Market
DEF
GHI ordinary share 700,000 860,000
JKL ordinary share 1,000,000 900,000
PRS bonds 3,000,000 2,800,000
On December 31, 2021, the remaining trading securities have the following amount and market value;
Carrying amount Market
DEF preference shares 250,000 280,000
JKL ordinary share 1,200,000 1,300,000
PRS bonds 3,500,000 3,200,000
Required; Prepare
a. Acquisition on January 1, 2020
b. December 31, 2020
c. January 15, 2021
d. December 31, 2021
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