Collins Ltd revalues its building and decides to incorporate the evaluation into the financial statements. The following information is relevant: Extract from the statement of financial position at 31 st December 2020

GH Building at cost 30,000 Accumulated Depreciation 9,000 21,000

Depreciation has been provided at 2% per annum on a straight line. The building is revalued at 30 th June 2021 at GH 27,600. There is no change in the remaining estimated future life. You are required to Show the relevant extracts from the financial statements at 31 st December 2021.