SOPL

Pls assist me on this.

The question is to prepare a sopl for an entity for the year end 30 April 20×1.

Part of the information given from nominal ledger was that land & building with a cost of 900,000 as at 1 May 20×0 and Acc’ dep 36,000.

Plant & equip as at 1 may 20×0 cost 102.800
Acc’ dep at 1 may 20×0 36,400

Additional note stated that :
(1) the land and building were originally acquired on 1 May 20W7 for 900,000 of which 300,000 related to Land. Depreciation is calculated on a straight line basis over a 50 year life and charged to admin exp.

(2)at the beginning of the year the entity revalued their land and buildings to 1,400,000 of which 460,000 related to land. The remaining life remains unchanged. This has not been accounted for.

(3) during the year a piece of plant costs 56,000 and accumulated dep of 21,000, met the criteria of IFRS 5 NCA held for sale and discontinued operations. The plant is available for sale at the price of 32,000 and costs of 1,000 will be incurred in order to complete the sale.
(4) plant and quipment should be depreciated at 20% on cost and charged to cost of sale.

Solutions :

Costs of land & building 900,000
Revaluation 500,000
Acc’ dep b/f. 36,000
Current year change 20,000
1400-460/47
Revaluation. (36,000)
CA 30 April 20×1= 1,380,000

Plant & equipment costs as at 1 may 20×0 = 102,800
Asset for sale = (56,000)
At 30 April = = 46,800
At 1 may 20×0 Acc dep. = 36,400
Revaluation. = –
Charge for the year = 9360
( 20% of 46,800)
Asset held for sale =. (21,000)
At 30 April 20×1 dep =. 24,760

Question.

If you look both depreciations as at 30 April 20×1 of both assets

How do they get 36,000 as revaluation? Though the 20,000 was the current year charge . It is supposed to be the acc’ Dep + current year charge = 56,000. But they deducted 36,000 amt from this figure to arrive at 20,000. I do not get it. Can you assist pls?