- This topic has 5 replies, 2 voices, and was last updated 10 years ago by
.
- Posts
Sir
why the SOPL and OCI. the revaluation amount is $4 000, I though it will be 3500 as $500 was transferred to retained earning .The revaluation amount was $4,000 and that figure is shown in the Statement of Changes in Equity (part ii in the answer)
Then there is a transfer of $500 representing “compensation” for the excess depreciation caused by the revaluation from Revaluation Reserve to Retained Earnings. This too is shown in the Statement of Changes in Equity
On the Statement of Financial Position the Revaluation Reserve is clearly shown as $3,500
I simply do not understand where you find your figures from! Or, put another way, when you have worked out a figure, how do you manage to compare your answer with the wrong part of the official answer?
Your calculation of $3,500 is correct!
yes Sir, but my problem is 4000 in the statement of other comprehensive incomes shouldnt be $3500 as we already transferred $500 to retained earning? I treated it the same way as deferred tax.
No, the 500 transfer simply goes through the Statement of Changes in Equity
- You must be logged in to reply to this topic.