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andreah
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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?
P2-D2
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Hi,
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
andreah
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