The following information is available about Blue Spruce Corp.s investments at December 31, 2023. This...
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The following information is available about Blue Spruce Corp.s investments at December 31, 2023. This is the first year Blue Spruce has purchased securities for investment purposes. Securities Cost Fair Value 2,900 shares of Petra Corporation common shares $55,100 $63,300 1,010 shares of Dugald Inc. preferred shares 29,290 26,990 $84,390 $90,290 Blue Spruce follows IFRS. Prepare the adjusting entry for December 31, 2023, assuming the investments are acquired for trading purposes and accounted for using the FV-NI model with no separate reporting of dividends and other types of FV-NI investment income and losses. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry isrequired, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit
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