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Record the sale under two different assumptions shares sold

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Question - On August 1, 2021, Duffy Dog Ltd. purchased 1,000 Datawave Inc. common shares for $48,100 cash with the intention of trading the shares and using the fair value through pro?t or loss model. Datawave declared a dividend of $1 per common share, which Duffy Dog received on December 28, 2021. On December 31, 2021, Duffy Dog's year end, the shares' fair value was $51,900. Assume that the shares were sold on February 1, 2022. Record the sale under two different assumptions: (a) the shares sold for $49,800, and (b) the shares sold for $47,100.

Reference no: EM133067772

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