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ACCA FR · Guided practice (Show me how)

Chapter 24: Group statement of profit and loss

Disposal of a subsidiary - the group profit on disposal

Work in $ million.

Socks, whose year end is 31 December, owned 90% of Mogs before it sold all of its investment on 31 December 2017 for $200 million. The non-controlling interest at that date was $15 million. The goodwill on acquisition was $38 million and the net assets at the date of disposal were $150 million.

  1. Socks: group profit on disposal

    Calculate the Socks group's profit on disposal of Mogs at 31 December 2017.

Opening this exercise…