Question
A machine acquired for 480,000 on 1st May 2018 and depreciated at 10% per annum using the straight-line method, has a market value of 600,000
A machine acquired for 480,000 on 1st May 2018 and depreciated at 10% per annum using the straight-line method, has a market value of 600,000 on 1st May 2022. How much is the revaluation gain to be included in the Revaluation Surplus account, if the machine is to be revalued on 1st May 2022?
312,000
72,000
360,000
120,000
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Global Financial Accounting And Reporting Principles And Analysis
Authors: Peter Walton, Walter Aerts
4th Edition
1473729521, 9781473729520
