Example (FVTOCI)

Hi,

In your example question on FVTOCI in financial instruments lectures, how do we record the actual profit of $150,000?

Dr Investment 540,000
Cr Bank 540,000

Dr Investment 80,000
Cr Gain (OCI) 80,000

If we sold a financial asset for $650,000 where fair value is $620,000, which we bought for $500,000, we would realise the gain of $120,000. But what about the actual cash received?

Dr Bank 150,000
Cr Revenue 150,000 now it is realised?

And when would the gain on FVTOCI be removed from the OCI section?

Thank you