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Revaluation and SOCIF 2021 dec exam FR
Revaluation model
$
Revaluation
$
Cost
5,500,000Acc. Depn. (5 years)
(500,000)
Carrying value
5,000,000
6,000,000
1,000,000
Depn. (5,400,000/45 years)
(100,000)
(120,000)
MY question is were did the 6,000,000 come from ? From the question the building’s cost at 1.06.12 was 5,000,000 and was later revalued to k5,400,000 at 01.07.17
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