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In: Accounting

DUPO Berhad purchase 500,000 unit shares of 7TWELVE Berhad, a listed company on Bursa Malaysia at...

DUPO Berhad purchase 500,000 unit shares of 7TWELVE Berhad, a listed company on Bursa Malaysia at RM2.80 each with 1 percent brokerage fees on 5 July 2019. The shares are less than 1 percent of shares issued by 7TWELVE. As at 31 December 2019, the price of the share is RM3.00 each unit.

Required:

  1. Show the journal entry on 5 July 2019 and 31 December 2019 using:
  1. fair value through profit or loss method.

  1. fair value through other comprehensive income.

  1. Discuss the concept and accounting treatment of convertible financial assets.

Solutions

Expert Solution


ekkarill92 answered 2 years ago
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