foreign currency on 14 june 20×9 friedland limited purchased 20000 shares of gerstan limited for us 6 20 per share/

Required:
1. Provide the journal entry to record purchase of the bond on 1 July.
2. Provide journal entries to record the acquisition of the Gerstan shares on 14 June, and payment to the broker in August.
3. Provide the 31 December 20X9 adjustment that must be made to reflect fair values and or exchange rate changes. No interest accrual need be made. Explain the components of the Gerstan adjustment.

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