Solution-Prepare the entries of abc ltd on basis of

Prepare the entries of abc ltd on basis of settlement date

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Reference no: EM133091941

Question - ABC Ltd is an investment company that trades in shares on the Australian Securities Exchange. ABC Ltd measures the shares at fair value through the profit or loss. ABC Ltd makes the following trades in ANZ Ltd.

Trade date	Quantity	Price	Buy/Sell	Brokerage
19 May 2021	2,000	27.31	buy	100
21 June 2021	3,000	28.08	buy	150
30 June 2021	1,000	28.24	sell	40

Settlement date is T+2 meaning that settlement of trades occurs two business days after trade date. The closing market price for shares in ANZ at 30 June 2021 is $28.03.

Required - Prepare the entries of ABC Ltd on the basis of settlement date accounting.

Reference no: EM133091941

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Prepare the entries of abc ltd on basis of settlement date : The closing market price for shares in ANZ at 30 June 2021 is $28.03. Prepare the entries of ABC Ltd on the basis of settlement date accounting

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Prepare the entries of abc ltd on basis of settlement date

Reference no: EM133091941

Reference no: EM133091941

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