Tammy's Toy Shop is contemplating going public around 2020 and would like an example of...
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Accounting
Tammy's Toy Shop is contemplating going public around 2020 and would like an example of what the impact would be on the financial statements. Tammy provides you with a scenario where she has a $500,000 bond payable and equity investments with a cost of $340,000 and a year-end market value of $380,000. She would like to know how these would be recorded and presented under IFRS. What are the journal entries?
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