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Do you mean “what is the mean”? If you do, then mean is another word for average and is therefore (W+X+Y)/3
Why have you posted this under the heading ‘revaluation’? It has nothing at all to do with revaluation! (and I am not sure where you are finding this relevant anywhere for Paper F3, anyway 🙂 )
During the revaluation of a tangible non current asset i found it. One of my friend told me (w=past=2003, x=present=2013, y=future=2023).Which means that gap of ten years and a format of tense to revalue a tangible non-current asset. Is it right??
I found 2 question following the method in the tangible non-current asset ll at BPP kit.
I am confused.Plz help!It does mean a gap of ten year, but not past, present of futures.
After W9 comes X0 and so on.
It doesn’t happen in the real exams.
Instead of having years written as normal (and as in the exam) such as 2018, 2019, 2020, 2021 etc., they have written them as 20W8, 20W9, 20X0, 20X1 etc.
Since X comes after W in the alphabet, 20X0 is the year after 20W9.
As I wrote before, they don’t use letters in the actual exam, but it is common for publishers like BPP to use them.
A non-current asset had cost 800,000 at 1st January 20W1 and it was being deprecited at2% per year. On 31st Dec 20Y0 a revalution to 1,000,000 was recognised. Now what will be the revaluation surplus at 31st Dec 20Y0?
So i think the answer will be {1,000,000-[800,000-(800,000×2%×20)]} = 520,000. am i right sir?
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