Asset A cost $50,000 on 1 January 20X4. This asset has a useful life of...
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Asset A cost $50,000 on 1 January 20X4. This asset has a useful life of 10 years and is revalued to $25,000 on 31 December 20X9.
Asset B cost $50,000 on 1 January 20X7. This asset has a useful life of 5 years and is revalued to $17,000 on 31 December 20X9.
Show how each of the gains or losses will be recorded within the revaluation surplus or the statement of profit or loss.
Asset A cost $50,000 on 1 January 20X4. This asset has a useful life of 10 years and is revalued to $25,000 on 31 December 20X9.
Asset B cost $50,000 on 1 January 20X7. This asset has a useful life of 5 years and is revalued to $17,000 on 31 December 20X9.
Show how each of the gains or losses will be recorded within the revaluation surplus or the statement of profit or loss.
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