Find the gain/loss on sale of property from these two figures Freehold property at cost/valuation (revalued 1
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Question:
Find the gain/loss on sale of property from these two figures
Freehold property at cost/valuation (revalued 1 January 2020): $1,380,000
Asset revaluation reserve on property:$480,000
Additional information:
A sale of property has been included in relevant accounts.
Expert Answer:
Answer rating: 100% (QA)
1 As given in question property is revalued on 01 Jan 2020 that means amount shown in rev... View the full answer
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