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Hello!
Would PUP would be subtracted from the Cost of investment in Associate if the Associate sells to the Parent ?Hi,
No, the PUP is deducted from the share of profit of associate, regardless of the direction of the sale.
Thanks
Umm okay.. but the Kaplan study text says that PUP should be subtracted from the Investment in Associate regardless of the direction of the sale.
That’s right, but it’s a double entry:
Dr Share of Profit of Associate
__Cr Investment in Associate
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