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Transfer of revaluation surplus

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Transfer of revaluation surplus

  • This topic has 3 replies, 2 voices, and was last updated 8 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • November 27, 2016 at 9:11 am #351827
    complicated
    Member
    • Topics: 110
    • Replies: 210
    • ☆☆☆

    Hi Mike,

    When an entity sells a previously revalued asset and makes a transfer of its revaluation surplus to retained earnings, should the transfer be,
    “The whole of the asset related revaluation surplus”
    OR
    “the whole of asset related revaluation surplus less difference between depreciation based on revalued amount and depreciation based on cost”?

    Or will the treatment be specified by the question?

    November 27, 2016 at 9:13 am #351829
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    It should be the whole of the revaluation reserve that relates to that asset

    November 27, 2016 at 9:15 am #351830
    complicated
    Member
    • Topics: 110
    • Replies: 210
    • ☆☆☆

    OK, thank you for the lighting fast reply! 🙂

    November 27, 2016 at 9:21 am #351833
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    You’re welcome

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    Posts
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