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Identify the best accounting model classification

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Question - Identify the best accounting model classification(s) for each of the investments described above below (1) IFRS.

1. Peach Inc. bought 5,000 shares in Pear Inc., a publicly listed company, for $2 per share. The shares in Pear Inc. are held to sell in the near term or to generate profits from short-term fluctuations in price.

2. Grapes Inc. purchased 1,000 shares in Cherry Inc for $2,500, as a long-term passive investment. Grapes Inc. management has indicated that they would like for any gains and losses related to these shares to bypass earnings.

3. Mango Inc. purchased $2 million in 2% bonds of Pineapple Inc. due in 10 years. Interest is payable annually. Mango Inc.'s business model is to hold the bond to maturity to collect contractual cash flows.

4. Banana Inc. purchased 22% of the shares of Plum Inc. for $50,000, and has demonstrated significant influence over Plum since the purchase.

Reference no: EM132924051

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