Question: Silva Inc owns shares of Costa Corporation classified as a
Silva Inc. owns shares of Costa Corporation classified as a non-trading equity investment. At December 31, 2010, the non-trading equity investment was carried in Silva’s accounting records at its cost of R$875,000, which equals its fair value. On September 21, 2011, when the fair value of the investment was R$1,200,000, Silva declared a property dividend whereby the Costa securities are to be distributed on October 23, 2011, to shareholders of record on October 8, 2011. Prepare all journal entries necessary on those three dates.
Answer to relevant QuestionsZhang Mining Company declared, on April 20, a dividend of ¥500,000 payable on June 1. Of this amount, ¥125,000 is a return of capital. Prepare the April 20 and June 1 entries for Zhang. The following data were taken from the statement of financial position accounts of Murless Corporation on December 31, 2010.Current Assets .................................................. R540,000Investments ...The financial statements of M&S are presented in Appendix 5B or can be accessed at the book’s companion website, www.wiley.comInstructionsRefer to M&S’s financial statements and the accompanying notes to answer the ...Briefly explain the accounting requirements for share compensation plans under IFRS.Briefly describe some of the similarities and differences between U.S. GAAP and IFRS with respect to the accounting for share-based compensation.
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