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Prepare any journal entries required by Samantha Company

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Question - Samantha Company owned common shares of Darren Inc. The investment was accounted for using the fair value through other comprehensive income (FV-OCI) model.

Samantha Company just sold the shares. The following information is from Samantha's accounting records on the date of sale, before any adjustments have been made:

# of Common shares held 10,000

AOCI balance (cr) 15,000

Carrying value of shares, before sale 268,000

Selling price of shares 285,000

Required - Prepare any journal entries required by Samantha Company to account for the sale of the Darren Inc. shares.

Reference no: EM132939756

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