Gabatho Pty Ltd has leased out some its property to its employees. The property was acquired...

 

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Gabatho Pty Ltd has leased out some its property to its employees. The property was acquired for BWP 30 million on 1 January 2012, with an initial useful life of 30 years. As of 1 January 2017, the property's market value stood at BWP 50 million, and its remaining useful life remained unaltered. The management's objective is to evaluate properties at fair value whenever permitted by accounting standards Illustrate how the property should be treated in the financial statements of Gabatho Pty Ltd for the year ended 31 December 2017. 22 18 201 Gabatho Pty Ltd has leased out some its property to its employees. The property was acquired for BWP 30 million on 1 January 2012, with an initial useful life of 30 years. As of 1 January 2017, the property's market value stood at BWP 50 million, and its remaining useful life remained unaltered. The management's objective is to evaluate properties at fair value whenever permitted by accounting standards Illustrate how the property should be treated in the financial statements of Gabatho Pty Ltd for the year ended 31 December 2017. 22 18 201

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To account for the property leased out to employees by Gabatho Pty Ltd as of the year ended 31 December 2017 well consider the fair value evaluation p... View the full answer