Chapter 12 – IFRS 5 eg1

Hi, I was wondering how the revaluation reserve is $1.4m. if the CV was $14m @ 1/1/15 then on 30/4/15 it becomes a NCA. At this stage is the FV not $13.9m and the Revaluation is $15.4 – $300k (CTS) so $15.1m then the gain on reval would be $1.2m.

HC
CV 1/1/15 14,000
Depn (300×4/12) (100)

CV 30/04/15 13,900

Reval 15,100 (15,400 – 300)

Surplus 1,200 (or 1,500 if ignore CTS)

I’ve probably done it wrong so hoping you can clarify?

Much Appreciated