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What is the balance on the revaluation reserve

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Question - Salman owns a fish­finger factory. The premises was purchased on 1 January, 2012 for Rs.450,000 and depreciation charged at 2% pa straight line.

Salman now wishes to revalue the factory premises to Rs.800,000 on 1 January, 2018 to reflect the market value. What is the balance on the revaluation reserve after this transaction? Pass journal entry.

Reference no: EM133020562

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