Recent content by Haroon Khan

Hi there! I will just answer your last question, how to handle dismantling cost. Well, dismantling cost will be required to pay after 20 years so you have to record at 6% discounted value in the current year which is 77,951. Then annually record unwinding of dismantling cost at 6%, so at the...

Hi there! See attach file, hope it helps.

Loss on disposal of assets revalued is charge in SOFP (Balance Sheet) to the extent of revaluation surplus recognize previously, remaining value is expensed out in SOCI (Income Statement / Profit and Loss Account). In question 30,000 is loss on land sold. However 20,000 should be set against...