Question
e) On January 1, 2017 Bambo Ltd purchased a building for its investment potential. The building cost GH 1 million with transaction costs of GH
e) On January 1, 2017 Bambo Ltd purchased a building for its investment potential. The building cost GH 1 million with transaction costs of GH 10,000. Its depreciable amount at this date was GH 300,000. The property has a useful life of 50 years. At 31 December 2018, the propertys fair value had risen to GH 1.3 million. During the year 2018 the property was sold for GH 1,550,000, and that selling costs were GH 50,000. Required What amounts would be included in the statement of comprehensive income for 2018 in respect of this disposal under i. the cost model and ii. the fair value model
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