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f7 notes 3rd chapter, problem with question

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › f7 notes 3rd chapter, problem with question

  • This topic has 1 reply, 2 voices, and was last updated 11 years ago by MikeLittle.
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  • February 25, 2014 at 4:05 pm #160024
    emmu
    Member
    • Topics: 31
    • Replies: 40
    • ☆☆

    In the 3rd chapter of f7 notes there is a question in which it says that an asset has been written down by 35 thousand…and revaluation surlpus has 25 thousand regarding that asset………in the solution that follows there revaluation surplus was deducted by 25 thousand ….
    My question is where does the rest of 35000 that is 10000 go???? Where is that effect shown…also will this 25000 be shown in OCI….Kindly help???

    February 26, 2014 at 7:52 pm #160492
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23322
    • ☆☆☆☆☆

    The other 10,000 will go through Statement of Income and, yes, the 25,000 will appear in both Statement of Comprehensive Income AND Statement of Changes in Equity

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