Hello Berhad, an entity with a 30 September 2022 year end, holds several investments in subsidiaries....

  

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Hello Berhad, an entity with a 30 September 2022 year end, holds several investments in subsidiaries. On 1 April 2022, it disposed of 35,000 of its 40,000 RM1 shares in its subsidiary Kitty Berhad for RM320,000. Hello Berhad had acquired the shares, which represented 80% of Kitty Berhad's ordinary share capital, on 1 April 2021 for RM250,000, when Kitty Berhad's total reserves was RM186,000. Kitty Berhad's net assets at the date of disposal were RM275,000. Since acquisition, there has been no impairment to goodwill. The fair value of the investment retained is RM33,000. Required: Calculate the consolidated profit or loss on disposal of the shares for inclusion in Hello Berhad's financial statements for the year ended 30 September 2022. Hello Berhad, an entity with a 30 September 2022 year end, holds several investments in subsidiaries. On 1 April 2022, it disposed of 35,000 of its 40,000 RM1 shares in its subsidiary Kitty Berhad for RM320,000. Hello Berhad had acquired the shares, which represented 80% of Kitty Berhad's ordinary share capital, on 1 April 2021 for RM250,000, when Kitty Berhad's total reserves was RM186,000. Kitty Berhad's net assets at the date of disposal were RM275,000. Since acquisition, there has been no impairment to goodwill. The fair value of the investment retained is RM33,000. Required: Calculate the consolidated profit or loss on disposal of the shares for inclusion in Hello Berhad's financial statements for the year ended 30 September 2022.