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Platinum Corporation Reported the Following Transactions Relating to Its Held

Question 127

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Platinum Corporation reported the following transactions relating to its held for trading investments. Platinum Corporation follows IFRS and has elected to report held for trading investments under the fair value through profit and loss model.Jan 1 Purchased 1,200 Silver Corporation shares for $20 cash each.Jun 1 Received cash dividends of $0.50 per share on Silver Corporation shares.Sep 15 Sold 600 shares of Silver Corporation for $13,800 ($23 each).Dec 1 Received cash dividends of $0.75 per share on Silver Corporation shares.Dec 31 Silver shares were trading at $27 each.Instructions
a. Record the above transactions and events.
b. Indicate where any revenues and gains or losses (realized or unrealized) would appear in the financial statements.

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blured image (b) Since the fair value through profit...

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