Valuation date Value is: Select one: a. R4 500 000 b. R2 700 000 c. R3 450 000 d. R3 750 000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Danny Moller aged 60 invested in an 8-bedroom house in East London Beach front on an asset 15 May 1991 for R
2 700 000. On 30 September 2000 he added 2 bedrooms at a cost of R1 800 000. The Market Value of the property
increased to R3 750 000 on 1 October 2001. The time - based value apportionment cost is R3 450 000. Danny
renovated on 30 November 2019. The renovations amounted to R450 000. He sold the Property for R2 400 000. The
Valuation date Value is: Select one: a. R4 500 000 b. R2 700 000 c. R3 450 000 d. R3 750 000
Transcribed Image Text:Danny Moller aged 60 invested in an 8-bedroom house in East London Beach front on an asset 15 May 1991 for R 2 700 000. On 30 September 2000 he added 2 bedrooms at a cost of R1 800 000. The Market Value of the property increased to R3 750 000 on 1 October 2001. The time - based value apportionment cost is R3 450 000. Danny renovated on 30 November 2019. The renovations amounted to R450 000. He sold the Property for R2 400 000. The Valuation date Value is: Select one: a. R4 500 000 b. R2 700 000 c. R3 450 000 d. R3 750 000
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