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Ayayai Limited, a public company that follows IFRS and has a calendar year end, made...

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Accounting

Ayayai Limited, a public company that follows IFRS and has a calendar year end, made the following purchases of investments in 2023.Ayayai intends to sell these investments to earn short-term profits from appreciation in their prices and accounts for the investments using the FV-NI model. This is the first year in which Ayayai invested in equity securities: On March 20, purchased 5,300 shares of Wu Inc. common shares at $30 per share plus commission of $450. On August 15, purchased 3,600 shares of Xi Inc. common shares at $26 per share plus commission of $380. On June 30, Ayayai sold 3,180 shares of Wu Inc. at $32 less commission of $600. The December 31,2023 market value of the Wu shares was $33 and of the Xi shares was $25.
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