Question: Gray Ltd purchased a machine on 1 April 2 0 x 2 for 1 6 0 0 0 . In the years ended 3 1

Gray Ltd purchased a machine on 1 April 20x2 for 16000. In the years ended 31 March 20x3 and 31 March 20x4, Gray Ltd deprecated the machine at 25% per annum on straight line basis. On April 20x4, the machine was re valued to GHS12000 with its estimated useful life unchanged. What is the effect of this revaluation of Gray Ltd profit and losd

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