Question
On 31.12.2018, a company acquires a plot of land instead of 500,000 and which is classified as owner-occupied properties. The plot is adjusted to 530.000
On 31.12.2018, a company acquires a plot of land instead of 500,000€ and which is classified as owner-occupied properties. The plot is adjusted to 530.000€ on 31.12.2019 and 460.000€ on 31.12.2020. The company prepares financial statements at 31.12 of each year and uses the model of readjustment in relation to the land. What is the accounting treatment of each adjustment in the Balance Sheet (Statement of Financial Position) as well as in the statement of total revenue?
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South Western Federal Taxation 2015
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
38th Edition
978-1305310810, 1305310810, 978-1285439631
