During Y Aylmer Inc. purchased the following investments for cash but incorrectly recorded them
as "Other Investments" on the balance sheet. Aylmer follows IFRS.
REQUIRED
Prepare the entry to correct the above amounts from "Other Investments" to the appropriate accounts
assuming that the common shares are classified as FVNI the investment in London represents
significant influence and the bonds are classified as OCl.
Prepare the entry to accrued interest income at December
Prepare necessary revluation entries given the following fair values:
Prepare any required entries given the following information for London Inc:
Report the appropriate balances on the December Y balance sheet for the above information.
After interest was received, the Lyons Inc bonds were sold on April Y for $ Prepare the appropriate entryies
