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Although Swanson Co was correctly accounted for in the group financial statements for the year ended 31 December 20X7, a gain on disposal of Swanson Co of $9·44m is currently included in operating expenses. This reflects the gain which should have been shown in Perkins Co’s individual financial statements.
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Operating expenses (3,300 – 1,673 (S x 8/12) + 9,440 profit on disposal)Why gain on disposal is shown as operating expenses?
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