Busi 293 – ASSIGNMENT #2
Additional Question
The following information relates to the investments classified at fair value through profit and loss (“FVTPL) of Sinclair Corp.
Acquisition Acquisition Date Selling Market Value Dec. 31
Security Date Cost Sold Price 2016: 2024 – Do my homework – Help write my assignment online 2017 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online
Alpha Apr. 13, 2016: 2024 – Do my homework – Help write my assignment online $140,000 N/A N/A $125,000 $142,000 $150,000
Beta Aug. 24, 2016: 2024 – Do my homework – Help write my assignment online $80,000 May 27, 2017 $105,000 $85,000 N/A N/A
Delta Jan. 8, 2017 $90,000 N/A N/A N/A $73,000 $85,000
Omega Jan. 3, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online $180,000 June 30, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online $210,000 N/A N//A N/A
The Sinclair Corp. closes its books on December 31 each year.
[“N/A” means not applicable.]
Required:
a. Prepare journal entries relating to these investments at fair value through profit and loss for each year. (There are NO brokerage fees.)
b. Show how the information regarding these investments would be presented on the income statement and balance sheet for each year.
THE TEMPLATE FOR SUBMITTING THIS QUESTION STARTS ON THE NEXT PAGE. ONLY HAND-IN THE PAGES STARTING WITH “NAME”.
293−ADDITIONAL QUESTION For ASSIGNMENT 2
NAME(Last,First): ________________________
STUDENT NO: _______________________
Debit Credit
2016: 2024 – Do my homework – Help write my assignment online
Apr. 13
Aug. 24
Dec. 31
2017
Jan. 8
May 27
Dec. 31
Debit Credit
2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online
Jan. 3
June 30
Dec. 31
b) Income Statement:
2016: 2024 – Do my homework – Help write my assignment online 2017 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online
Realized gain (loss) on sale of investments at fair value through profit and loss
Unrealized gain (loss) from change in market value of investments at fair value through profit and loss
Balance Sheet:
2016: 2024 – Do my homework – Help write my assignment online 2017 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online
Investments (“FVTPL”)
(at ____________________________________)
