Question $7$

On January $1,2023,$ Oriole Ltd$.$ acquires a building at a cost of $$280,000.$ The building is expected to have a $20-$

year life and no residual value. The asset is accounted for under the revaluation model, using the asset adjustment

method. Revaluations are carried out every three years. On December $31,2025,$ the fair value of the building is

appraised at $$255,000,$ and on December $31,2028,$ its fair value is $$130,000.$ Oriole applies IFRS.

negative sign preceding the number e$.$g$.-45$ or parentheses e$.$g$.(45).)$Dec$.31,2026$

Depreciation

Dec. $31,2027$

Depreciation

Unadj. Dec. $2028$

Reval. Adjustment

Reval Gain or Loss

Reval. Surplus $($OCI$)$

Dec. $31,2028$