Reference no: EM132569622
Question - On 1 June 2018, Happy Ltd purchased 80,000 shares in Green Ltd at a price of $5 each. The transaction costs for the purchase are $4,000, paid in cash. On 31 May 2019) (Balance Date), the closing market price for a share in Green Ltd is $2. The Investment in Green Ltd is not held for trading.
(a) Assuming Happy Ltd measures its share investments at "fair value through profit or loss", provide the journal entries to account for the investment in Green Ltd shares as required by NZ IAS 32 and NZ IFRS 9, and disclose the financial asset and related gain or loss on fair value on the financial statements for the year ending 31 May 2019.
(b) Assuming Happy Ltd has made the election to account for its share investments at "fair value through other comprehensive income", provide the journal entries to account for the investment in Green Ltd shares as required by NZ IAS 32 and NZ IFRS 9, and disclose the financial asset and related gain or loss on fair value on the financial statements for the year ending 31 May 2019.
(c) In your own words, explain why the company may choose to account for its share investments at "fair value through other comprehensive income" over "fair value through profit or loss".
|
Discuss the public choice theory or model
: Using both your textbook and at least one other peer-reviewed source, discuss the public choice theory or model. How does it relate to rivalness.
|
|
Sodium-potassium pump on propagation of action potential
: Describe the role of the sodium-potassium pump on the propagation of an action potential.
|
|
Long comparative analysis paper
: Why are you comparing these two characters, events, concepts, literary devices, etc. What significant point (s) does your comparison demonstrate
|
|
What the amount of cash paid for insurance
: What The amount of cash paid for insurance during 2021 was equal to? The account balances were taken from THE Company's accounting records during 2021
|
|
Provide the journal entries to account for the investment
: Provide the journal entries to account for the investment in Green Ltd shares as required by NZ IAS 32 and NZ IFRS 9, and disclose the financial asset
|
|
Health condition causes homeostatic imbalance
: Describe how the pathology of the health condition causes a homeostatic imbalance in the system.
|
|
Compute the current fair price of the stock
: The required return on common stock (Ke) is 12%. Compute the current fair price of the stock (Po). Show work please
|
|
Do the students have the character to become good nurses
: Two nursing students cheated on several assignments. Although the evidence is irrefutable, both students deny cheating. Discuss these students in terms.
|
|
Calculate the weighted average cost of capital
: Hospital Corporation of Boston (HCB)'s 12 percent coupon rate, annual payment, $1,000 par value, 30-year bonds currently sell at a price of $1,188.52.
|