Investco is a trading firm and has Dec 31 as its annual closing date. On...
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Investco is a trading firm and has Dec 31 as its annual closing date. On Oct 17th of 2019, it had purchased 1000 shares at $12 each. The share value on Dec. 31, 2019 was $10. Due to Covid and lockdown, the share value on Dec 31, 2020 was further down to $8. Markets recovered a little in 2021 and the price as of Dec 31,2021 was $11. Markets further recovered and on June 20, 2022 Investco sold all shares for $13. Please provide the necessary journal entries to record the purchase, changes in investment and sale of their investment, assuming this investment was categorized as FVTPL
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