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Prepare the relevant journal entries for abc ltd

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Reference no: EM132494863

On 1 July 2019 ABC Ltd acquired 50 000 shares in DEF Ltd at a price of $20 each. There were brokerage fees of $1000. The closing market price of DEF Ltd shares on 30 June 2020 which is the entity's financial year end was $24.

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Question 1: Prepare the relevant journal entries for ABC Ltd to account for the investment in DEF Ltd using fair value through other comprehensive income.

Reference no: EM132494863

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