Solution-Revaluation into the financial statements

Revaluation into the financial statements

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Reference no: EM13556144

A company revalues its buildings and decides to incorporate the revaluation into the financial statements. The following in formations relevant.

a) Extract from the balance sheet at 31 December 20x7

Building		$
Cost		1,500,000
Depreciation		450,000
		1,050,000

b) Depreciation has been provided at 2% per annum on a straight line

c) The building is revalued at 30 June 20x8, at $ 1,380,000 there is no change in its remaining estimated future life.

You are required to show the relevant extracts from the financial statement at 31 December 20x8

Reference no: EM13556144

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Revaluation into the financial statements

Reference no: EM13556144

Reference no: EM13556144

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