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(c) Please note: the maximum word count for this requirement is 160 words. On 30 June 2021, Galadriol ple disposed of one of its UK
(c) Please note: the maximum word count for this requirement is 160 words. On 30 June 2021, Galadriol ple disposed of one of its UK based subsidiary companies, in which it held 75% of the ordinary share capital. The only accounting entries that have been made are to debit bank and credit Investments in the individual company statement of financial position with the consideration received. Briefly explain the accounting treatment for a disposal of a subsidiary in the consolidated financial statements. [4 marks)
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