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sir if this is a scenario then what will be the profit going in INDIVIDUAL SPL of thomas??
Thomas disposed of a 25% holding in Percy on 30 June 20X6 for $125,000. A 70% holding in Percy had been acquired five years prior to this at a cost of $140000.
can you show your calculation for finding cost of shares sold?
will it be 140000×70%x25% OR 140000×25/70
Am tad bit confused with respect to this. any help would be of much help!
Parent’s profit will proceeds minus carrying amount.