3.23 LO4 You review the notes to the property, plant and equipment account and observe the items listed in the reconciliation between the opening and closing balance of various property, plant and equipment accounts (listed below).

Description Add or subtract Explanation Initial revaluation (upwards)

Depreciation Acquisition Impairment loss Reversal of a write-down to fair value Partial reversal of a previous upward revaluation Disposal Impairment loss reversal For each item listed:

(a) Determine whether it would have been added or subtracted from the opening balance.

(b) Explain the nature of the adjustment.

Copyright © Pearson Australia (a division of Pearson Australia Group Pty Ltd) 2018 — 9781488616570 — Atrill/Accounting for Business Students 1e Atrill, Peter, et al. Accounting for Business Students eBook, P.Ed Australia, 2017. ProQuest Ebook Central, http://ebookcentral.proquest.com/lib/usyd/detail.action?docID=5220577.

Created from usyd on 2018-03-05 16:43:06.

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154 ACCOUNTING FOR BUSINESS STUDENTS