Alba SA sells half of its interest in Brise SA, an associate, and retains significant influence: the reduction represents 50 % of the previous interest. The accumulated other comprehensive income recognised in respect of Brise is 80,000 (gain). Case convention: the reclassified gain is credited to a gain-on-disposal account. Record the reclassification entry.
- Accumulated other comprehensive income
- 80,000
- Proportion of the reduction in the interest
- 50 %