Question
On 1 July 2018 ABC Ltd. acquired a land for 100,000 which is measured using the revaluation model. At 30 June 2019, Land was assessed
On 1 July 2018 ABC Ltd. acquired a land for 100,000 which is measured using the revaluation model. At 30 June 2019, Land was assessed to have a fair value of $150 000. At 30 June 2020, Land was assessed to have a fair value of $ 90 000.
Required
Prepare the journal entries during the period 30 June 2019 to 30 June 2020 in relation to the Land. (Please ignore the tax effect.)
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The Psychology Of People In Organisations
Authors: Angela Mansi, Melanie Ashleigh
1st Edition
0273755765, 9780273755760
