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Calculate the gain or loss

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Company B is constructing a property for future use as investment property. B applies the fair value model Previously the company was using the cost model under IAS40

  • Now the company is changing to fair value mode. 1 July 20x6 the carrying amount of the property is 750 and the fair value of the property is AED 1,000. During the year end 30 June 20x7 company capitalizes maintenance costs of AED 400 and borrowing cost of AED 100. Now the carrying cost is AED 1,250. The fair value of the property at 30 June 20x7 is AED 1,400.

Problem 1: Calculate the gain or loss

A. 650
B. 150
C. 550

Reference no: EM132785455

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