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Advise pjh bhd on the accounting treatment of the gain

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Reference no: EM133043774

Question - PJH Bhd acquired an equity investment that was classified as fair value through other comprehensive income several years ago for RM20,000. The investment has been revalued to RM40,000 by the last reporting date. The asset is then sold for RM41,000.

Required - Advise PJH Bhd on the accounting treatment of the gain or loss on disposal for the above situation according to MFRS 9 Financial Instruments. Support your answer with journal entries.

Reference no: EM133043774

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