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What would be the change in profit or loss in the year-end

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Point 1: Suppose that a rental company generates rent income from its equipments. The company acquires a new equipment in order to rent to its customers. New equipment costs 120.000 TL. The company revalues the equipment at the end of the year, and finds that its revalued amount is 110.000 TL. The useful life of the equipment is 5 years and depreciation method is straight-line. The company does not apply the cost model in the measurement of its equipments.

Question 1: What would be the change in profit/loss in the year-end income statement other things being equal?

Reference no: EM132523191

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