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Show the relevant ledger accounts for the period

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Reference no: EM132744542

Question - A free hold building is purchased on January 01, 2000, for Rs 40,000. its estimated useful life is 20 years and it is depreciated at the rate of Rs 2000 per annum in each of the ended December 31, 2000 and 2001. On January 1 ,2002 a professional valuer estimated the value of the building at Rs 108,000.

Required - On the assumption that the revaluation is to be incorporated in to the books of accounts, and the original estimate of the useful life was correct, show the relevant ledger accounts for the period January 2000 to December 31, 2002.

Reference no: EM132744542

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