a.Prepare the related journal entries of the debt investment for the year 2018.b.Prepare journal entries to record the purchase, the fair value adjustment and the selling of investment in Gemilang Bhd.c. Prepare journal entries to record the purchase, the dividend received and the fair value adjustment of investment in Harmoni Bhd.d.Explain FOUR (4) reasons why companies can use the financial assets to sustain the business during the COVID-19 pandemic. WPS OfficeP Topic 6 Financial Assets A202P A202-Financial .ets-Student.pdf Q X+Sembag.O Go Premium= Menu vHomeInsertCommentEditPageProtectToolsIKQUESTION 2Suffi Bhd is a distributor of electrical appliances and operates in central area of Selangor. Thecompany closes its account on every 31 December. The following information is related to theequity and debt investments of Suffi Bhd:DateTransactions5 January 2018Suffi Bhd purchased RM5,000,000 of 12% bonds for RM5,250,000. Thebonds provide the bondholders with a yield of 11% market rate. Theinterest is paid at the end of the year. The company holds the bonds tocollect contractual cash flows.30 September 2018 Suffi Bhd acquired 20,000 shares of Gemilang Bhd at RM3.50 per shareand the transaction cost incurred was RM8,500. Suffi Bhd intended to sellthe shares of Gemilang Bhd in the middle of 2019 to take advantage ofthe changes in the share prices.Suffi Bhd acquired 30,000 shares of Harmoni Bhd at RM2.00 per share.The brokerage fee incurred was RM6,000. Suffi Bhd intended toestablish these shares as a long term investment.Suffi Bhd sold 50% shares of Gemilang Bhd at the selling price ofRM4.00 per share.3E7 October 201815 June 2019Additional information:At the end of 2018, Suffi Bhd received a cash dividend of RM0.40 per unit ofits investment in shares of Harmoni Bhd on 31 December 2018.1.2.follows:The market values of the equity investments on 31 December 2018 are asInvestmentMarket value per shareGemilang BhdHarmoni BhdRM4.15RM2.50REQUIRED:Prepare the related journal entries of the debt investment for the year 2018.ab.Prepare journal entries to record the purchase, the fair value adjustment and theselling of investment in Gemilang Bhd.Prepare journal entries to record the purchase, the dividend received and the fairvalue adjustment of investment in Harmoni Bhd.C.d.Explain FOUR (4) reasons why companies can use the financial assets tosustain the business during the COVID-19 pandemic.3/-> >I80 0085% ->

Solution: (A). Date Particulars Debit Credit 2018 $ $ Jan 5 Bond investments 5,000,000…

Answered: a.Prepare the related journal entries…

Business

Accounting

a.Prepare the related journal entries of the debt investment for the year 2018.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter6: Investing And Financing Activities

Section: Chapter Questions

Problem 3.5C

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