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Prepare the extract of statement of profit or loss

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Question - On 1 April 2015, Expert Bhd acquired a patent for RM500,000. The expected useful life is estimated to be 5 years. The company adopts the revaluation model in the subsequent measurement of its intangible assets. On 31 March 2018, the fair value of the patent was RM300,000.

Required - Prepare the extract of statement of profit or loss and statement of financial position as at 31 March 2018. Show all workings.

Reference no: EM133056069

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