A company invested in 20,000 shares of a listed company in November 2021 at a cost of $ 3.20 per share. At 31 December 2020 the shares have a market value of $2.90. The company is not planning on selling these shares in the short term and elects to hold them as fair value through other comprehensive income.

Required

Prepare extracts from the statement of profit or loss and other comprehensive income for the year ended 31 December 2020 and a statement of financial position as at that date

Answer rating: 100% (QA)

Statement of Profit or Loss and Other Comprehensive Income for the ... View the full answer