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How does the revaluation be calculated?
Question No.109 in BBP says that a building had a fair value $22m and a carrying amount of $20m at mid-year. The remaining useful life was 20years. At the year end the fair value of the building was $23m.
And the answer says that the revaluation gain was 1m, but I think that the revaluation gain was 1.55m considering the depreciation a half-year depreciation.
Your answer will be greatly appreciated!You’re going to need to type out the full question, sorry. I don’t have that BPP material available
But be careful to type it out fully – it looks to me that there should be some further information available
And make sure too that you give me all available answer options
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