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  3. her company purchased 26,000 common shares (20\%)

Her Company purchased 26,000 common shares (20\%) of Him Inc. on January 1 , Year...

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Accounting

imageimage Her Company purchased 26,000 common shares (20\%) of Him Inc. on January 1 , Year 4 , for $442,000. Additional information on Him for the three years ending December 31, Year 6, is as follows: On December 31, Year 6, Her sold its investment in Him for $598,000. Required: (a) Compute the balance in the investment account at the end of Year 5, assuming that the investment is classified as (Omit \$ sign in your response.) (i) FVTPL Balance in investment account (ii) Investment in associate Balance in investment account (iii) FVTOCl Balance in investment account $ (b) Calculate how much income will be reported in net income and other comprehensive income in each of Years 4, 5, and 6 , and in total for the three years assuming that the investment is classified as (Leave no cells blank - be certain to enter "O" wherever required. Omit \$ sign in your response.) (i) FVTPL (ii) Investment in associate (iii) FVTOCI (c) This part of the question is not part of your Connect assignment. Her Company purchased 26,000 common shares (20\%) of Him Inc. on January 1 , Year 4 , for $442,000. Additional information on Him for the three years ending December 31, Year 6, is as follows: On December 31, Year 6, Her sold its investment in Him for $598,000. Required: (a) Compute the balance in the investment account at the end of Year 5, assuming that the investment is classified as (Omit \$ sign in your response.) (i) FVTPL Balance in investment account (ii) Investment in associate Balance in investment account (iii) FVTOCl Balance in investment account $ (b) Calculate how much income will be reported in net income and other comprehensive income in each of Years 4, 5, and 6 , and in total for the three years assuming that the investment is classified as (Leave no cells blank - be certain to enter "O" wherever required. Omit \$ sign in your response.) (i) FVTPL (ii) Investment in associate (iii) FVTOCI (c) This part of the question is not part of your Connect assignment

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