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Unformatted text preview: 1. No impact, as land increases and asset revaluation reserve increases. 2. This is a very large revaluation, and the revaluation is done by directors. There is no independent valuation. Problem 9.23 1. Building $200 000 Less accumulated depreciation Building $ Carrying amount / Book Value $140 000 60 000 2. Dr Accumulated depreciation - Building $60 000 Cr Building $60 000 Dr Building $260 000 Cr Revaluation reserve $260 000 Note: new terminology: Revaluation Reserve instead of Asset Revaluation Reserve....
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This note was uploaded on 03/19/2012 for the course ACCT 1511 taught by Professor Kim during the Three '10 term at University of New South Wales.
- Three '10