A-LevelAccountingAccounting for non-current assets9706/12 · Oct/Nov 2013 · Q41 Mark

A building cost $340000. The accumulated depreciation on the building was $47600. It was decided to revalue the building to its market value of $560000. What is the balance on the revaluation reserve?

A$172400

B$220000

C$267600

D$512400

✓ Correct answer

C: $267600

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About this question

Topic: Accounting for non-current assets, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Oct/Nov 2013 Paper 1 Variant 2, question 4.

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