ejoy 6/06

Sir can you plz explain relevant to note b joint venture why we eliminate the ejoy share of gain on disposal
secondly plz explain the calculation of note d ;

1 June 20X5, Ejoy purchased a five year bond with a principal amount of $50 million and a fixed interest
rate of five per cent which was the current market rate. The bond is classified as at fair value through profit
or loss. Because of the size of the investment, Ejoy has entered into a floating interest rate swap. Ejoy has
designated the swap as a fair value hedge of the bond. At 31 May 20X6, market interest rates were six per
cent. As a result, the fair value of the bond has decreased to $48·3 million. Ej oy has received $0·5 million in
net interest payments on the swap at 31 May 20X6 and the fair value hedge has been 100% effective in the
period, and you should assume any gain/loss on the hedge is the same as the loss/gain on the bond. No
entries have been made in the statement of profit or loss and other com prehensive income to account for
the bond or the hedge.
there is solution in bpp kit but i dont understand it