PLS HELP, MY DEADLINE IS IN 3 HOURS

Question 2 Total 15 marks Sydney Ltd is an investment company that trades in shares on the Australian Securities Exchange Sydney Ltd values its equity instruments (shares) at fair value through the profit and loss accoun using trade date accounting. The settlement date is three days, meaning that settlement of trade occurs three business days after the trade date. During the year ended 30 June 2020, Sydney Ltd made the following share trades in Qantas Airway Ltd (QAN), a well-known public listed company that is also the flag-carrier airline of Australia: Trade date 10/1/20 20/1/20 7/5/20 Quantity 70,000 33,000 35,000 Price/share $11 $12 $15 Action Buy Buy Sell Brokerage fees $500 $500 $300 The closing market price of QAN shares on 30 June 2020 was $14.20. Requirement: Prepare the journal entries necessary for Sydney Ltd to record the above trades in QAN's shares for the year ended 30 June 2020. Show all workings and narrations. (15 marks)