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On 31st January 2018, Co. disposed a building for 450,000. Building was accounted for using revaluation model. At date of disposal, after deduction of Accumu. depreciation of 90,000, the building had a carrying value of 310,000. Revaluation surplus in equity 30,000.
Calculate Profit on disposal of the building for inclusion in the statement of Profit and loss for the year ended 31 December 2018?This forum is for asking for help when you have a problem. There is no point in simply setting me a test question.
You must have an answer in the same book in which you found the question, so ask about whatever it is in the answer that you are not clear about and then I will explain.
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