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Question · Other comprehensive income on loss of control

Orme SA loses control of Saule SA. The accumulated other comprehensive income relating to Saule, reclassifiable to profit or loss as on a direct disposal of its assets and liabilities, amounts to 62,000 (case convention). Record the reclassification entry.

Accumulated other comprehensive income that is reclassifiable
62,000
Your answer
  1. Line 1

    Account Other comprehensive income reserve

  2. Line 2

    Account Gain on loss of control

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