Page 86 - SBR Integrated Workbook STUDENT S18-J19
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Chapter 6
Further detail can be found in Section 1 of Chapter 6 in your Study Text.
Example 1
Agriculture
A herd of five 4 year old animals was held on 1 January 20X3. On 1 July 20X3
a 4.5 year old animal was purchased.
The fair values less estimated point of sale costs were:
4 year old animal at 1 January 20X3 $200
4.5 year old animal at 1 July 20X3 $212
5 year old animal at 31 December 20X3 $230
Calculate the gain or loss arising on the revaluation of the herd in the
year ended 31 December 20X3.
80
