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TOKI PJSC owns two pieces of land in Dubai. Land A was purchased in 2013...

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Accounting

TOKI PJSC owns two pieces of land in Dubai. Land A was purchased in 2013 at a cost of Dh10 million while Land B was purchased in 2014 at a cost of Dh12 million. The lands were classified as fixed assets, and were revalued as follows:

Open market value

Land A

Land B

Years revalued

Dh million

Dh million

2015

8

16

2017

12

11

2019

11

14

Required:

At each valuation date, calculate the surplus or deficit arising on the revaluation of both lands, respectively.

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