Page 449 - F1 Integrated Workbook STUDENT 2018

Answers

Exxampple 6

Assset A cost $$50,000 onn 1 Januaryy 20X4. Thhis asset has a usefuul life of 10
years and is reevalued to $25,000 oon 31 Deceember 20XX9.
Assset B cost $$50,000 onn 1 Januaryy 20X7. Thhis asset has a usefuul life of 5
years and is reevalued to $17,000 oon 31 Deceember 20XX9.
Shoow how eaach of the gains or llosses willl be recorrded within the
revaaluation reeserve or the statemment of prrofit or losss.

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