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Kona uses IFRS and has property and equipment on an historical cost basis of $2,500,000. At the end of the year, Kona appraises its property
Kona uses IFRS and has property and equipment on an historical cost basis of $2,500,000. At the end of the year, Kona appraises its property and equipment and determines it had a revaluation increase of $200,000. How should Kona record this revaluation under IFRS?
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Under the International Financial Reporting Standards IFRS Kona will record the revaluation increase ...
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Intermediate Accounting
Authors: Kin Lo, George Fisher
Volume 1, 1st Edition
132612119, 978-0132612111
