Pee Cee Limited sold some of its investments for a consideration of 40,00,000. These investments were purchased
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Pee Cee Limited sold some of its investments for a consideration of ₹40,00,000. These investments were purchased at ₹32,00,000 and initially were classified as FVTOCI. The carrying amount of this investment is ₹38,00,000 million and the cumulative gain previously recognized in the OCI amounted to ₹6,00,000. What would be the impact of this sale on financial statements of the company?
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The impact of selling investments classified as Fair Value Through Other Comprehensive Income FVTOCI ...View the full answer
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