Sir can you please explain me this question
Smithson Co purchased a new building with a 50- year life for $10 million on 1st January 20X3 . On 30th June 20X5 , Smithson Co moved out of the building and rented it out to third parties on a short term lease. Smithson Co uses the fair value model for investment properties .At 30 June 20X5 the fair value of the property was $ million and at 31st December 20X5 it was $11.5 million.
what is the total net amount to be recorded in the statement of profit or loss in respect of the office for the year ended 31 december 20X5?
Ask the Tutor ACCA FR
Financial Reporting
7y ago#1Hi,
It doesn't work if I just answer a full question for you. Can you please explain which bit of the question/answer you do no understand and then I will answer that for you. It is a much more beneficial way to help you understand the subject.
Thanks
Sign into reply to this topic.