Alba SA sells part of its interest in Brise SA, which makes it lose significant influence. It receives 500,000 in cash; the retained interest is a financial asset with a fair value of 300,000, and the carrying amount of the investment is 650,000 (case data). Case convention: no amount of other comprehensive income is to be reclassified. Record the entry for the loss of significant influence.
- Consideration received
- 500,000
- Fair value of the retained interest
- 300,000
- Carrying amount of the investment
- 650,000