Faraday Ltd has always prepared its final accounts to 31 March. The company bought a building on 1 April 20X3 for £72,000. Its depreciation policy on buildings has always been to depreciate at 10% p.a. on a reducing balance basis, but no depreciation is ever charged in the year of a disposal.

When preparing the final accounts for the year ended 31 March 20X6, before any depreciation had been charged for that year, it was decided to revalue the building to £100,000. On 1 September 20X6, the company sold the building for £95,000.

Write up the ledger accounts for all years up to and including the year ended 31 March 20X7, including all opening and closing balances, for:

► Building account.

► Provision for depreciation account.

► Revaluation account.

► Sale of asset account.

Indicate how the balances would be dealt with in the final accounts at 31 March 20X6.