? Kings Plc made the following investments: a. 15 million shares in Yaka Limited on 30 June

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Kings Plc made the following investments: a. 15 million shares in Yaka Limited on 30 June 20X1 for K25 million, when the reserves of Y Limited were K10 million b. 8 million shares in Zulu Limited on 30 June 20X3 for K12.million, when the reserves of Zulu Limited were K8 million The summarized Income Statements for the year ended 30 June 20Y0 were as follows: Sales revenue Operating costs Operating profit Investment income Profit before tax King Plc Km 200 100 100 8 108 32 Yaka Ltd Km 111 55.5 55.5 76 55.5 18.5 37.0 Income tax Profit for the period Statements of changes in equity for the year ended 30 June 20Y0 Zulu Ltd Km 51.6 25.8 25.8 25.8 8.6 17.2 Kings Plc made the following investments: a. 15 million shares in Yaka Limited on 30 June 20X1 for K25 million, when the reserves of Y Limited were K10 million b. 8 million shares in Zulu Limited on 30 June 20X3 for K12.million, when the reserves of Zulu Limited were K8 million The summarized Income Statements for the year ended 30 June 20Y0 were as follows: Sales revenue Operating costs Operating profit Investment income Profit before tax King Plc Km 200 100 100 8 108 32 Yaka Ltd Km 111 55.5 55.5 76 55.5 18.5 37.0 Income tax Profit for the period Statements of changes in equity for the year ended 30 June 20Y0 Zulu Ltd Km 51.6 25.8 25.8 25.8 8.6 17.2

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I Equity investments at FVOCI IFRS 9 requires all equity investments to be measured at fair value Un... View the full answer