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Dear Mike
in Q42 (i) it says “land element ..increased in value by 500 000 usd” I added this amount to NCA PPE in the asset side of the balance sheet and to the revaluation surplus account in the equity side, but the solution did not, why?
ThanksI suppose it could be ( I don’t have the question here at the airport! ) because of some wording n the question. For example, it could say that “this increase HAS BEEN reflected within the subsidiary’s accounts” or maybe even that “the increase was as at the date of acquisition”
Otherwise, I can’t suggest why your adjustment hasn’t been put through – it sounds perfectly reasonable to me. Check the precise wording again in the note which tells you about the increase
ok, with your answer in mind…the OCI has the 500 000 usd in the given statement of comprehensive income, so that means it went through the other accounts, this is always a grey area for me, what is booked and what is not, the questions are not always clear and sometimes I make extra JEs
anyways Thanks a lot
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