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uestion: At Dec 20×3 Q, a limited liability company owned a building that had cost $800, 000 on the 1 Jan 20W4.
It was being depreciated at 2% per year.
On 31 Dec 20X3 a revaluation to $1,000,000 was recognised. At this date the building had a remaining useful life of 40 years.
What is the balance on the revaluation surplus at 31 Dec 20X3 and the depreciation charge in the income statement for year ended 31 Dec 20×4
1000000/40=25000 understood
800000*2%=16000*10=160000
1 January 20w4 to 31 december 20×3(10 years)?how? I confuse when i see 20×4 or 20y5 .
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