b) On June 30, 2022, investment in the equity portfolio of ECW Libra Bhd. is as...

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b) On June 30, 2022, investment in the equity portfolio of ECW Libra Bhd. is as follows: Unrealized Gain (Loss) Investment Cost Fair Value RM RM RM A 17,500 15,000 (2,500) B 12,500 14,000 1,500 C 23,000 25,500 2,500 Total 53,000 54,500 1,500 Fair Value Adjustment (Beginning balance) 200 (Dt) Fair Value Adjustment 1,300 On July 15, 2022, ECW Libra Bhd. sold the Investment in A for RM15,300. This amount was the net amount after the brokerage fee. Required: i) Prepare the adjusting entries on June 30, 2022, to report the investment portfolio of ECW Libra at fair value, assuming that the portfolio is classified as: a) Trading securities. b) Securities measured at fair value through other comprehensive income. ii) Show how the effect of the transaction in i) above will be presented in the Statement of Financial Position as of June 30, 2022, as trading securities. iii) Prepare the journal entry on July 15, 2022, to record the sale of Investment in A. b) On June 30, 2022, investment in the equity portfolio of ECW Libra Bhd. is as follows: Unrealized Gain (Loss) Investment Cost Fair Value RM RM RM A 17,500 15,000 (2,500) B 12,500 14,000 1,500 C 23,000 25,500 2,500 Total 53,000 54,500 1,500 Fair Value Adjustment (Beginning balance) 200 (Dt) Fair Value Adjustment 1,300 On July 15, 2022, ECW Libra Bhd. sold the Investment in A for RM15,300. This amount was the net amount after the brokerage fee. Required: i) Prepare the adjusting entries on June 30, 2022, to report the investment portfolio of ECW Libra at fair value, assuming that the portfolio is classified as: a) Trading securities. b) Securities measured at fair value through other comprehensive income. ii) Show how the effect of the transaction in i) above will be presented in the Statement of Financial Position as of June 30, 2022, as trading securities. iii) Prepare the journal entry on July 15, 2022, to record the sale of Investment in A.