During the year ended 30 June 2018, a company's revaluation reserve increased from R300 000 to R380 000 as a result of a property revaluation. At the start of that financial year, the company's property had been valued at R810 000. Assuming that no property was disposed of during the year, which of the following statements is true? Select one: a. The property's revalued amount was R1 190 000. b. The property's revalued amount was R1 310 000. c. The property's revalued amount was R380 000. d. The property's revalued amount was R890 000.
During the year ended 30 June 2018, a company's revaluation reserve increased from R300 000 to R380 000 as a result of a property revaluation. At the start of that financial year, the company's property had been valued at R810 000. Assuming that no property was disposed of during the year, which of the following statements is true? Select one: a. The property's revalued amount was R1 190 000. b. The property's revalued amount was R1 310 000. c. The property's revalued amount was R380 000. d. The property's revalued amount was R890 000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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During the year ended 30 June 2018, a company's revaluation reserve increased from R300 000 to R380 000 as a result of a property revaluation. At the start of that financial year, the company's property had been valued at R810 000. Assuming that no property was disposed of during the year, which of the following statements is true?
Select one:
a. The property's revalued amount was R1 190 000.
b. The property's revalued amount was R1 310 000.
c. The property's revalued amount was R380 000.
d. The property's revalued amount was R890 000.
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