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Calculate the debit entry in Entity Rs financial statements

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Reference no: EM133073616

Question - Entity R measures its non-current assets using the revaluation model. At 30 June 20x2, Entity R purchased a property for R100,000. The property was re-valued at 30 June 20x6 to R250,000.

The latest valuation report, dated 30 June 20x8, values the building at R95,000. Entity R has adjusted the building shown in non-current assets at 30 June 20x8. Calculate the debit entry in Entity R's financial statements for the year ended 30 June 20x8.

Reference no: EM133073616

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