Integrated Ltd purchased 69500 shares in a company listed on the JSE. The shares acquired on 1
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Question:
Integrated Ltd purchased 69500 shares in a company listed on the JSE. The shares acquired on 1 June 2018, were acquired when the share price was R3.40 per share. Integrated had to pay brokers commission of 2% for this transaction. At the end of year-end date, the share price was R3.70 per share. Integrated has elected to measure the shares at the fair value through profit or loss. Required: Explain the accounting treatment of the shares in the financial statements for the year ended 31 December 2018. Include the calculations. Round to the nearest Rand.
Related Book For
Horngrens Accounting
ISBN: 978-0133855388
10th Canadian edition Volume 2
Authors: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo-Ann L. Johnston, Peter R. Norwood
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