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Surplus on revaluation

This topic has 3 replies, 2 voices, and was last updated 5 years ago by John Moffat.

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November 15, 2020 at 10:35 pm #595139
ilham9089
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Any profits on revaluation are unrealized so they go to the revaluation reserve in the sofp, other comprehensive income and Statement of changes in equity right? Where does it go when the profit is realized
November 16, 2020 at 8:04 am #595156
John Moffat
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It is transferred from the revaluation reserve to retained earnings.
November 17, 2020 at 2:42 am #595242
ilham9089
Participant
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Thank you answering my questions. I scored 85.
November 17, 2020 at 9:20 am #595269
John Moffat
Keymaster
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You are welcome, and many congratulations on passing with such a high mark 🙂
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