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Prior to revaluation to fair value at 30 June 2009 the balance in Thunder's asset revaluation reserve in relation to land was: A. $154 000 B. $182 000 C. $220 000 D. $260 000

Prior to revaluation to fair value at 30 June 2009 the balance in Thunder's asset revaluation reserve in relation to land was: A. $154 000 B. $182 000 C. $220 000 D. $260 000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject:- Accounting 

 

25. Thunder Ltd has two blocks of land that are accounted for under the revaluation method. Details are as follows: Block A Block B Total class Original cost: Current carrying amount: Fair value at 30 June 2009: $300,000 was: OA. $154 000 B. $182 000 C. $220 000 D. $260 000 $560,000 $590,000 $850,000 $810,000 $860,000 $1,150,000 $1,370,000 $1,450,000 Prior to revaluation to fair value at 30 June 2009 the balance in Thunder's asset revaluation reserve in relation to land
Transcribed Image Text:25. Thunder Ltd has two blocks of land that are accounted for under the revaluation method. Details are as follows: Block A Block B Total class Original cost: Current carrying amount: Fair value at 30 June 2009: $300,000 was: OA. $154 000 B. $182 000 C. $220 000 D. $260 000 $560,000 $590,000 $850,000 $810,000 $860,000 $1,150,000 $1,370,000 $1,450,000 Prior to revaluation to fair value at 30 June 2009 the balance in Thunder's asset revaluation reserve in relation to land
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