Accounting Theory And Current Issues

Question 1                                                                                                             (7 marks) ABC Ltd has the following land and buildings in its financial statements as of 30 June 2022: On 30 June 2022, the balance of the revaluation surplus is $904 000, of which $678 000 relates to the factory land and $226 000 to the buildings. On this same date, independent valuations…...