Q3. On January 01, 2018, Z_Corp bought common shares in Alpha, Beta, and Gamma, as shown...

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Q3. On January 01, 2018, Z_Corp bought common shares in Alpha, Beta, and Gamma, as shown in the table below. During 2019, Z_C

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Answer 1

Answer #1

A)
		Dr	Cr

	Bank	93
	Loss on sale of Gamma Shares Shares	2
	Investment in Gamma shares		95

	(Being sold the 30 shares in Gamma @ 3.10 )

B)		Dr	Cr

	Investment in Alpha Shares	5
	Fair value adjustment- NI		5

	(Being fair value gain recognized for 50 Shares @.10/Share



	Fair value adjustment- NI	5
	Investment in Beta shares		5

	(Being fair value loss recognized for 40 Shares @.125/Share)


	There is no gain or loss to be reported neither in Income statement nor OCI as net gain or loss is Zero

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Answer 2

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Q3. On January 01, 2018, Z_Corp bought common shares in Alpha, Beta, and Gamma, as shown...

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