At first July 2018 creative Limited acquired 150,000 shares in brokerage Limited at a price of five dollars each. There were brokerage fees of $1000. The closing market price on brokerage Limited shares on 30 June 2019 was $10. 1. Provide the required accounting journal entries for creative limited to account for the investment in brokerage Limited using fair value through other comprehensive income at first July 2018 And 30 June 2019. Also calculations. 2. Explain how future dividends on above equity investment will be treated in the financial statement of creative Limited.

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1 Journal Entries for Creative Limited a July 1 2018 Initial Investment Investment in Brokerage Limi... View the full answer