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The information below is from the Takafel Company.: 1.     Investment property is acquired August 11, 2008, at a cost of BD2100. 2.     The Fair values of the investment property is determined by the company as follows: §  On December 31, 2008 - BD2000 §  On December 31, 2009 - BD2080 §  On December 31, 2010 - BD2150 Assume that the company used Fair value model (FVM), do the necessary entries at the end of 2008, 2009 and 2010.

The information below is from the Takafel Company.: 1.     Investment property is acquired August 11, 2008, at a cost of BD2100. 2.     The Fair values of the investment property is determined by the company as follows: §  On December 31, 2008 - BD2000 §  On December 31, 2009 - BD2080 §  On December 31, 2010 - BD2150 Assume that the company used Fair value model (FVM), do the necessary entries at the end of 2008, 2009 and 2010.

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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The information below is from the Takafel Company.:

1.     Investment property is acquired August 11, 2008, at a cost of BD2100.

2.     The Fair values of the investment property is determined by the company as follows:

§  On December 31, 2008 - BD2000

§  On December 31, 2009 - BD2080

§  On December 31, 2010 - BD2150

Assume that the company used Fair value model (FVM), do the necessary entries at the end of 2008, 2009 and 2010.

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