Anonymous
May 28
What is the amount to be recognised in other comprehensive income in respect of the revaluation?
Sun Co bought a property for $700 000 including $300 000 relating to land. Buildings are
depreciated at 5% per annum. After 10 years the buildings were revalued to $550 000.
depreciated at 5% per annum. After 10 years the buildings were revalued to $550 000.
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ChatGPT
May 28
The amount to be recognized in other comprehensive income in respect of the revaluation would be the difference between the carrying amount of the asset before revaluation and the revalued amount. This difference would be recorded as a revaluation surplus in other comprehensive income.
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Google Gemini AI
May 28
The revaluation surplus of $10,000
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Anonymous
May 28
These are the options given: A [ ] $50 000
B [ ] $200 000
C [ ] $250 000
D [ ] $350 000
B [ ] $200 000
C [ ] $250 000
D [ ] $350 000
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