Question: Case Study 2: TY Sdn Bhd is a company specializing in manufacturing branded lady's handbags and its financial year ended on 30th June. The company

Case Study 2: TY Sdn Bhd is a company specializing in

Case Study 2: TY Sdn Bhd is a company specializing in manufacturing branded lady's handbags and its financial year ended on 30th June. The company purchased a new building amounted to RM4 million on 1st July 2019. The managing director of the company had decided to rent out the new building for rental purposes. The building had an estimated useful life of 40 years with no residual value. The property had a fair value of RM7.5 million as at 30th June 2021. On 1st July 2022 the property was sold for net proceeds of RM6.2 million. Required: Calculate the profit or loss on disposal under both the cost model and fair value model. (8 marks)

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