Homework Answers
Answer :
|
Z crop. Journal Entries |
|||
| Particulars | Debit $ | Credit $ | |
| a. | Cash A/c | 93 | |
| Realized loss on sale of investment A/c | 27 | ||
| To investment in Equity Securities | 120 | ||
| (Sale of Gamma shares) | |||
| b. | Fair value adjustment A/c | 25 | |
| To Unrealized holding gain -NI | 25 | ||
| (390-350)-(485-470) = 25 | |||
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