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Question 7 -FVTPL and FVOCI shares On November 20x8, Ponzi Company acquired the following FVTPL...

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Question 7 -FVTPL and FVOCI shares On November 20x8, Ponzi Company acquired the following FVTPL investments: Blueberry Corp. - 2,900 common shares at $20 cash per share Raspberry Corp -750 preferred shares at $30 cash per share nnual reporting period ends December. Quoted fair values on December 31, 20X8 were as follows Blueberry Corp.-common, $17 Raspberry Corp.-preferred, $31 The following happened in 20X9 2 March Raspds pr share asfollows: Blueberry Corp for $2,40 and Corp. for $1.10 1 October Sold 180 shares of Raspberry Corp. preferred shares for $33 per share Fair values were as follows: Blueberry Corp. $26 and Raspberry Corp. preferred $30 31 December Record the entry for the Accounting Class to record the investment and the adjusting entries at the end of 20X8 Date Explanation PR Debit Credit

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