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Hi there could you guide me for the calculation of chapter 19 example 1 from opentuition notes. e.g
PPE at cost or valuation 960,000
Acc. depreciation 390000
PPE at net book value 570000on 1/01/2009, item plant sold 47000, which cost 110000, had book value 40000. etc
my question is
How do I arrived at revaluation of 2500000, in the calculation.Does this line from the question help?
“During 2009, property with a carrying value of $100,000 was revalued to $350,000”
IAS 7 Revised: Statement of Cash Flows – Example 6
sir in this example where should I put the bank ( 60)thousand & should the c/f change from 49 thousand
There are 2 ways of dealing with an overdrawn figure in the bank balance
– treat it as part of financing activities as though it were a (long-term) loan, or
– treat is as part of cash and cash equivalents
I ALWAYS treat it as a cash and cash equivalent … unless a question were to specify that it was a long term arrangement and had been around the same level for an extended period of time
But that has never been the case in any exam question in the last 40 years so … I ALWAYS treat it as cash and cash equivalent
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