A major difference between IFRS and GAAP relates to the A Revaluation Surplus Account.
A revaluation reserve is an equity account that stores changes in the value of fixed assets. If the revalued assets are subsequently disposed of by the company, the remaining revaluation reserve is credited to the company's retained earnings account.
This reserve is only used when the organization prepares its financial statements in accordance with International Financial Reporting Standards. No revaluation reserve is allowed for companies using generally accepted accounting principles.
A revaluation reserve is an equity account that stores changes in the value of fixed assets. If the revalued assets are subsequently disposed of by the company, the remaining revaluation reserve is credited to the company's retained earnings account.
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A computer would enhance the productivity of a business because it would produce better communication and would also help things be accomplished faster. hope that helps if not lmk
Answer: $12000
Explanation:
The amount of interest should Turnbull include in the cost of the building from the current period will be calculated as the outstanding debt multiplied by the interest rate. This will be:
= $200,000 × 6%
= $200,000 × 6/100
= $200,000 × 0.06
= $12,000
Therefore, the correct option is C.
<span>It's an initiative by the United States Department of Agriculture to create School gardens, community gardens, urban farms, and small-scale agriculture projects in rural and urban areas, to benefit the community itself and help achieve sustainable development.</span>
