• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

ACCA December 2022 Exam results:
* Pass rates * Comments * Instant Poll * Competition *

Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>

mini exercise ( non current assets )

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › mini exercise ( non current assets )

  • This topic has 0 replies, 1 voice, and was last updated 7 years ago by nashlove.
Viewing 1 post (of 1 total)
  • Author
    Posts
  • April 9, 2015 at 7:56 am #240609
    nashlove
    Participant
    • Topics: 12
    • Replies: 4
    • ☆

    Trial balance extracts for year ended 31 March, 2011
    Land and buildings at cost 270,000
    Plant at cost 156,000
    Accumulated depreciation to 31 March 2010
    Building 60,000
    Plant 26,000
    Rental of leased plant 22,000

    The land and buildings were purchased on 1 April 1995. The cost of the land was $70 million. No land and buildings have been purchased
    by Kala since that date. On 1 April 2010 Kala had its land and buildings professionally valued at $80 million and $175 million respectively.
    The directors wish to incorporate these values into the financial statements. The estimated life of the buildings was originally 50 years and
    the remaining life has not changed as a result of the valuation.

    i’m not understanding the part how we have got

    DR Depreciation expense (cos) 5,000
    CR Accumulated depreciation 5,000
    and
    DR Revaluation reserve 1,000
    CR S of Comp Inc 1,000.

    can you please explain ?

  • Author
    Posts
Viewing 1 post (of 1 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

ACCA News:

 

ACCA My Exam Performance for non-variant Applied Skills exams is available NOW

NEW! Download the ACCA Pass Guide

FREE Verifiable CPD for ACCA Members

ACCA mock exams and debrief videos

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

Donate

If you have benefited from OpenTuition please donate.

ACCA CBE 2023 Exams

Instant Poll * How was your exam, and what was the result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • John Moffat on Capital asset pricing model (part b) – ACCA Financial Management (FM)
  • John Moffat on Capital asset pricing model (part b) – ACCA Financial Management (FM)
  • palbu on Basic group structures – Impairment – ACCA (SBR) lectures
  • AkilaShaikh on Capital asset pricing model (part b) – ACCA Financial Management (FM)
  • AkilaShaikh on Capital asset pricing model (part b) – ACCA Financial Management (FM)

Copyright © 2023 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy