An entity sells a portfolio of brand licensing rights, acquired for 800,000 and amortised by 500,000 at the date of sale. The selling price is 350,000 and the entity bears 10,000 of legal fees related to the sale. What gain on disposal is recognised in profit or loss?
- Acquisition cost
- 800,000
- Accumulated amortisation
- 500,000
- Selling price
- 350,000
- Costs related to the sale
- 10,000