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Revaluation

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Revaluation

  • This topic has 4 replies, 2 voices, and was last updated 5 years ago by John Moffat.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • March 6, 2020 at 3:26 pm #564592
    arr1854
    Member
    • Topics: 4
    • Replies: 8
    • ☆

    Could you assist me in finding the revaluation surplus balance from the question 8.5 in bpp

    March 6, 2020 at 10:43 pm #564720
    arr1854
    Member
    • Topics: 4
    • Replies: 8
    • ☆

    I was able to get the depreciation amount but dint know how to get the revaluation surplus balance.

    March 7, 2020 at 9:09 am #564758
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54748
    • ☆☆☆☆☆

    The building had been owned for 10 years and was being depreciated at 2% per year. So the carrying value / NBV immediately before the revaluation was 800,000 – (10 x 2% x 800,000) = 640,000.

    It was revalued to 1,000,000 and therefore the revaluation surplus is 1,000,000 – 640,000 = 360,000.

    March 7, 2020 at 1:07 pm #564799
    arr1854
    Member
    • Topics: 4
    • Replies: 8
    • ☆

    Oh. Thank youu

    March 8, 2020 at 6:31 am #564861
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54748
    • ☆☆☆☆☆

    You are welcome 🙂

  • Author
    Posts
Viewing 5 posts - 1 through 5 (of 5 total)
  • The topic ‘Revaluation’ is closed to new replies.

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