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ABC (Pty) Ltd owns a building acquired on 1 January 2010 for an amount of N$250.000. The building was occupied by its head office personnel.
ABC (Pty) Ltd owns a building acquired on 1 January 2010 for an amount of N$250.000. The building was occupied by its head office personnel. At initial recognition, it was estimated that this building would be used for 50 years and have a nil value at the end of it's useful life. On 30 June 2019, the head office function was moved to one of its production centres, and the head office building was rented out effective 1 July 2019. The fair values relating to the property are as follows: 1 July 2019: N$350,000.00 31 December 2019: N$350,000.00 The company has a 31 December year end Property, plant and equipment are measured on the Cost and Investment Properties on the Fair value models, respectively. Calculate the fair value gain on the Property for the period ended 31 December 2019. Select one: O A N$250.000 OB. N$150.000 OC. N$292,500
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