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Hi,
In this example under revaluation, the asset wasn’t depreciated before revaluation. Is there any reason for that?
Hi,
The asset will have been depreciated prior to the revaluation and we’ll have used it to calculate the carrying value of the asset. This figure is then compared to the fair value to get the revaluation gain. Have a look through the workings and you’ll see that it has been depreciated.
Thanks
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