Revaluation and SOCIF 2021 dec exam FR
Revaluation model
$
Revaluation
$
Cost
5,500,000
Acc. Depn. (5 years)
(500,000)
Carrying value
5,000,000
6,000,000
1,000,000
Depn. (5,400,000/45 years)
(100,000)
(120,000)
MY question is were did the 6,000,000 come from ? From the question the building’s cost at 1.06.12 was 5,000,000 and was later revalued to k5,400,000 at 01.07.17
Ask the Tutor ACCA FR
Revaluation
Hi,
It must be the revalued amount and should be given in the question somewhere.
Thanks
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