Question
A dwelling is contained in a CC. Cost of Land & buildings was was R 750942. The revalued amount was R 2264000 causing a revaluation
A dwelling is contained in a CC. Cost of Land & buildings was was R 750942. The revalued amount was R 2264000 causing a revaluation surplus of R 1513058.
What are the accounting entries required? (with explanations - include deferred tax implications considering CGT)
Tax rate is 28%
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Financial And Managerial Accounting
Authors: Jan R. Williams, Joseph V. Carcello, Mark S. Bettner, Sue Haka, Susan F. Haka
14th International Edition
0071101217, 9780071101219
