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Before application of the IFRS Revaluation option, the 12/31 balance sheet of the Ney Company included its only building: Building $500,000 A/D (180,000) Book Value
Before application of the IFRS Revaluation option, the 12/31 balance sheet of the Ney Company included its only building:
Building $500,000
A/D (180,000)
Book Value $320,000
The fair value at 12/31 was $400,000. No revaluation was recorded in prior years. The Proportional Revaluation method is used. What is the effect of the revaluation adjustment on the 12/31 Accumulated Depreciation account and the 12/31 Total Stockholders' Equity, respectively?
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Sound Investing, Chapter 24 - The Auditors??? Opinion
Authors: Kate Mooney
2nd Edition
0071719466, 9780071719469
