Solution-Prepare the entries using the fvtpl method

Prepare the entries using the fvtpl method

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Reference no: EM133123258

Question - On April 30, 2019, Marc Company purchased 20,000 shares of Spencer Ltd. for $56 per share plus $2,600 in commission. On September 30 2019, the company received $1.30 per share dividend, and the shares had a fair value of $60 per share at the end of the year. On November 1 2020, the shares were sold for $65 per share less a $1,500 commission.

Required -

a) Prepare the entries for 2019 using the FVTPL method.

b) Prepare the entry on November 1, 2020 for the sale of the shares.

Reference no: EM133123258

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Prepare the entries using the fvtpl method : Marc Company purchased 20,000 shares of Spencer Ltd. for $56 per share plus $2,600 in commission. Prepare the entries for 2019 using the FVTPL method

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Prepare the entries using the fvtpl method

Reference no: EM133123258

Reference no: EM133123258

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