IAS 16 PPE

No, and therefore your supplementary question is not applicable

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That's exactly right ... where do you think that you're having trouble understanding that calculation? And there's a credit into the revaluation reserve on 31 December, 2005 of $360,000 followed on 31 December, 2006 by the removal of that credit to set off against the loss of $380,000 OK? Incidentally, it appears that the directors MAY be guilty of a little bit of manipulation here! If the building had NOT been revalued on 31 December, 2005 and had been sold on 31 December, 2006 for $1,720,000 there would have been a loss on disposal to be accounted for of $30,000 in the year to 31 December, 2006

Yes, that works It would be more "normal" to have 2 or 3 separate less convoluted journals rather than a single composite masterpiece, but, as I said, it works

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