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Hi please explain this question to me. My question here is, How will we know if fair value is recognised through the profit or loss or OCI if its not indicated.
This question is from the Kaplan Exam kit Q.92 .
DEF purchased 15000 shares in KMH Co on1 August 20X6 at a cost of $6.50 each.
Transaction costs on the purchase amounted to $1500.
At the year – end 30 September 20X6, these shares are now worth $7.75 each.
Select the correct gain and the place it will be recorded.
Gain-$17250
-$18750
Where recorded- SOPL
-OCI
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