A-LevelAccountingAccounting for non-current assets9706/12 · Oct/Nov 2017 · Q31 Mark

A company's year end is 30 April. It purchases a factory in May 2014 at a cost of $200000. The factory will be depreciated over 20 years. A full year's depreciation is charged in the year of purchase. In May 2017 the factory is revalued at $300 000. How much should be included in the revaluation reserve account?

A$100000

B$120000

C$130000

D$140000

✓ Correct answer

C: $130000

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Topic: Accounting for non-current assets, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Oct/Nov 2017 Paper 1 Variant 2, question 3.

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