A business owns a building which it has been using as a head office. In order to

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A business owns a building which it has been using as a head office. In order to reduce costs, on

30

June

2009

it moved its head office functions to one of its production centers and is now letting out its head office. Company policy is to use the fair value model for investment property.The building had an original cost on

1

January

2000

for $

250, 000

and was being depreciated over

50

years. At

31

December

2009

its fair value was judged to be $

350, 000 .

Required:How will this appear in the financial statements at

31

December

2009 ?

Posted Date: May 11, 2024 04:37 AM

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A business owns a building which it has been using as a head office. In order to

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