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PPE – revaluation downwards

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › PPE – revaluation downwards

  • This topic has 3 replies, 2 voices, and was last updated 6 years ago by P2-D2.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • January 9, 2019 at 1:09 pm #500472
    toushiga
    Participant
    • Topics: 424
    • Replies: 172
    • ☆☆☆☆

    Hello sir, for Example 2 – Revaluation decrease in the opentuition notes,
    if we didn’t transfer the excess depreciation (Dr Revaluation reserve Cr RE),the answer will it be like this?

    Dr Revaluation reserve $4.25m (previous has $4.4m)
    Dr accumulated depn $1.25m
    Cr PPE $6m

    and how to show the revaluation decrease(Dr revaluation surplus gain before) in the SOCE ?Is it called revaluation decrease and put bracket and minus from bal b/d?Thank you.

    January 11, 2019 at 10:34 pm #500906
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7180
    • ☆☆☆☆☆

    Hi,

    Why would the revaluation reserve be lower at $4.25 m if we haven’t made the transfer?

    Yes, the revaluation decrease is shown as a negative figure.

    Thanks

    January 12, 2019 at 1:49 am #500929
    toushiga
    Participant
    • Topics: 424
    • Replies: 172
    • ☆☆☆☆

    Because the Revaluation decrease to $8m in Dec 2015
    CV = $14m – 1.75(depreciation)
    =$12.25
    compare to new fair value = $8m
    total decreased revaluation = $4.25m

    Thank you .

    January 14, 2019 at 10:15 pm #501911
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7180
    • ☆☆☆☆☆

    But if you are not making the transfer then the revaluation reserve cannot be any lower than it was initially and in the numbers you have above it is, unless I’ve misread it.

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