2.3 On 31.12.2018, a company acquires a plot of land instead of 500,000€ and which is classified as owner-occupied prope
Posted: Sat May 07, 2022 8:00 pm
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?
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?