At 1 January 2020, the revaluation surplus of Bloxden was P1,257,000. This was in respect of the company’s head office. During the year to 31 December 2020, the value of the head office increased by a further P82,000. In the same period, the company’s factory suffered an impairment of P90,000. What is the value of the revaluation surplus at 31 December 2020?
At 1 January 2020, the revaluation surplus of Bloxden was P1,257,000. This was in respect of the company’s head office. During the year to 31 December 2020, the value of the head office increased by a further P82,000. In the same period, the company’s factory suffered an impairment of P90,000. What is the value of the revaluation surplus at 31 December 2020?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At 1 January 2020, the revaluation surplus of Bloxden was P1,257,000. This was in respect of the company’s head office. During the year to 31 December 2020, the value of the head office increased by a further P82,000. In the same period, the company’s factory suffered an impairment of P90,000. What is the value of the revaluation surplus at 31 December 2020?
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