On January 25, 2011, Douglas Ltd. purchased 1,000 common shares of BMO (Bank of Montreal) for $65
Question:
Required:
Assume that Douglas classified the investment as held for trading.
a. At what value should the company report the BMO shares on its December 31,2011 balance sheet?
b. How much income should the company report in relation to these shares?
c. How much other comprehensive income (OCI) should Douglas report in relation to these shares?
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aDouglas should report the BMO shares at fair value of 69share 1000 ...View the full answer
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Rustia Melrod
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