Royal Logistics Limited is a German company making up its balance sheet on 31 March....
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Royal Logistics Limited is a German company making up its balance sheet on 31 March. It acquired 2,000 shares and 5,000 shares in United Alliance Plc at 15/share and 21/share on 10 April 2020 and 15 December 2020, respectively. The shares of United Alliance Plc were being traded on the Euronext Paris stock market closing at 17/share and 19/share on 31 December 2020 and 31 March 2021, respectively. The company has no intention of selling the shares soon.
REQUIRED:
(i) Calculate the fair value and unrealised gain/loss at the financial year-end. State whether you measured the asset at level 1, 2 or 3 and why.
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