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What is the accounting treatment of each adjustment in the Balance Sheet (Statement of Financial Position) as well as in the statement of total revenue?

What is the accounting treatment of each adjustment in the Balance Sheet (Statement of Financial Position) as well as in the statement of total revenue?

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter12: Intangibles
Section: Chapter Questions
Problem 10MC
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2.3 On 31.12.2018, a company acquires a plot of land instead of 500,000€ and which is classified as owner-occupied properties. The plot is adjusted to 530.000€ on 31.12.2019 and 460.000€ on 31.12.2020. The company prepares financial statements at 31.12 of each year and uses the model of readjustment in relation to the land. What is the accounting treatment of each adjustment in the Balance Sheet (Statement of Financial Position) as well as in the statement of total revenue?

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