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Prepare the investment in snap ltd ordinary shares

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Reference no: EM133177300

Question - S Ltd has an investment division that has a wide portfolio of diversified investments. They currently have the following investment:

The following is a list of transactions that were concluded during the 2017 financial year in the ordinary shares of Snap Ltd, a company listed on the JSE Ltd Stock Exchange:

2 January 2017: S Ltd purchased 14 000 ordinary shares for R15 per share.

31 March 2017: S Ltd sold 6 000 shares for R18 per share.

25 August 2017: S Ltd sold 2 400 shares for R19 per share.

30 December 2017: The closing price of Snap Ltd ordinary shares was R16 per share.

ADDITIONAL INFORMATION:

1. The shares are held for speculative purposes.

2. Re-measurement of the shares takes place before every sale and at year-end.

3. The brokerage fee paid on all these transactions was 5% of the value of the transaction. The brokerage fee is not included in the amounts above.

REQUIRED - Prepare the Investment in Snap Ltd ordinary shares accounts in the general ledger of S Ltd for the reporting period ended 31 December 2017.

Reference no: EM133177300

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