Question
Ex6 Building and 2 models On 1 January 20X1, ABC company acquired a building with a total cost of CU 300 000. As of 31
Ex6
Building and 2 models On 1 January 20X1, ABC company acquired a building with a total cost of CU 300 000. As of 31 December 20X1, the following information is available:
Buildings useful life is 30 years.
Buildings fair value on 31 December 20X1 is CU 310 000.
What accounting entries shall ABC make with respect to this building in 20X1 under:
- Fair value model
- Revaluation model
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The Auditors Guide To Blockchain Technology Architecture Use Cases Security And Assurance Security Audit And Leadership Series
Authors: Shaun Aghili
1st Edition
1032078251, 978-1032078250
