Question: Question 1 Alive Ltd has the following extract from Statement of Financial position as at 31/12/2019 GHC Stadium at cost 1,500,000 Accumulated depreciation (562,500) 937.500

Question 1 Alive Ltd has the following extract from Statement of Financial position as at 31/12/2019 GHC Stadium at cost 1,500,000 Accumulated depreciation (562,500) 937.500 On 30th September 2020, the stadium was revalued at GH1,380,000. Depreciation is on straight lire basis at 2.5%p.a. Required Account for the above transactions in the books of Alive Ltd in accordance with IAS 16 Property Plant and Equipment

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