Day: March 8, 2021

Freehold land and buildings are shown in the accounts at a cost price of £200,000 and accumulated depreciation of £40,000.

The property is to be revalued in the books at £340,000. What is the double entry to record this transaction? 

Select ONE answer:

Show your workings to arrive at your answer, and explain and justify your reasons:

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This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

• Not correct
• Not correct
• Not correct
• Correct

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