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Hello,
1. please how do i treat a revaluation if the question states that the property were reassessed at different prices(higher FV-costs) from the time the property was held for sale till it was actually sold.
2. from the time where property was held for sale, do i calculate depreciation taking into account the revalued amounts? ( from the time o held for sale to actual sale is 1 year)
What will be the step by step accounting treatment please?
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