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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › 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
No, I think you’ve done it right. I might need to go back and update the numbers, sorry!
Thanks