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An entity purchased property for 6 million on 1 July 2013. The expected useful life...

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Accounting

An entity purchased property for 6 million on 1 July 2013. The expected useful life of the property was 20 years and its residual value nil. On 30 June 2017 the property was revalued to 4 million. On 30 June 2019 the property was sold for 4.5 million. What is the gain on disposal of the property that would be reported in the statement of profit or loss for the year to 30 June 2019

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