On January 1 , 2 0 2 0 Alpha Ltd . invested $ 9 0 6 ,
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Question:
On January Alpha Ltd invested $ in bonds with a face value of $ with
a nominal interest rate of and semiannual interest payments on June and December
each year. The market rate of interest was on January and the bonds were set to
mature in years. The bonds had a market value of $ on December Alpha
Ltd uses IFRS.
Required
a Using the Amortized Cost model, prepare all journal entries required on December
b Using the Fair Value through Net Income model, prepare all journal entries required on
December
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