Problems Problem 5.1 Bonnie Fantastic Inc owns freehold land for its operation of an entertainment...
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Accounting
Problems Problem 5.1 Bonnie Fantastic Inc owns freehold land for its operation of an entertainment as decided to cease to operate Park entertainment park itsel, but seek to rent out the whole park to another operator Re the will only charge rent on the park and royalty fee on the use of is park name and br The managing director, Bonnie Hung is drafting a proposal to cease and solicit t Because of the change in strategic focus, Bonnie h tend er offers for the park operation. Bonnie Hung considers that the company has changed usage of the land and the land should be transferred as an investment marked up to the fair value, around 50% higher than t property and he current carrying amount. Discuss the arguments of Bonnie Hung and suggest the proper accounting tr on the land and the park
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