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Norman bought 200,000 shares in a listed entity on 1 March 2015 for $500,000, incurring transaction
costs of £40,000. Norman acquired the shares as part of a long term strategy to realise the gains in the
future. The fair value of the shares was £620,000 at 31 December. The shares were subsequently sold
for $650,000 on 31 January 2016.this is from your open tution video
de recognition part is unavailableCan you please answer the JE for the de recognition (sale entry)?
Tell me if my answer is correct
DR BANK 650000
DR Other Comprehensive Income 80000
CR statement of profit and loss 30000
CR Investment in shares 620000
CR Retained earning 80000
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