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.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 6MCQ: Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense...

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