In example 5, why is the depreciation charged as 30,000 even if the revaluation was done after 3 years on 31 Dec 2015 and it was bought on 1 Jan 2013 i.e. 1 Jan 2013 to 31 Dec 2013, same for 2014 and same for 2015. Therefore, shouldn’t the depreciation for the year ending 31 December 2015 be 10,000 rather than 30,000?
No, the accumulated depreciation is 30,000 which has reduced the asset from its cost of 500,000 to its current carrying value at the end of the year of 470,000 prior to any revaluation taking place.