Prepare all the journal entries related to the investment

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Question - On March 31, Year 1, Pluto Corp. acquired 10,000 shares of Saturn Ltd. for $35 per share. On June 30, Year 1, Pluto received a dividend of $0.40 per share. Pluto tracks the receipt of dividends separately from other investment income. On December 31, Year 1, the shares were available on the stock market for $37.60. On April 15, Year 2, Pluto sold the shares for $38.10 per share. Pluto follows IFRS and uses the FVNI model for this investment. Prepare all the journal entries related to the investment from acquisition to disposal.

Reference no: EM133101342

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