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During the year land was revalued and the surplus reported as Revaluation surplus; and an asset costing 80,000, written down

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During the year land was revalued and the surplus reported as Revaluation surplus; and an asset costing £80,000, written down to £38,000, was sold for £40,000. Identify the cost of any non-current assets acquired during the year ending 30 September 2012.

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As at 30 September Non-current assets at cost Accumulated depreciation Revaluation surplus 2011 2012 £595,000 £924,000 £84,400 £97,200 £120,000 -

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Financial Accounting An Introduction

Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Details
Chapter # 10- Incomplete records
Section: Multiple Choice Questions
Problem: 22
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Question Posted: August 28, 2023 08:22:28
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