The property was purchased on December 31, 2018 for 20 million baht when the general price index was 60.1. On December 31, 2018, the general price index had risen to 240.4. For an entity operating in a hyperinflationary economy, the carrying amount of the property in the financial statements after restatement would be 80 million baht.
Original Description:
Original Title
Exercise Answers - Functional Currency is the Currency of a Hyperinflationary Economy
The property was purchased on December 31, 2018 for 20 million baht when the general price index was 60.1. On December 31, 2018, the general price index had risen to 240.4. For an entity operating in a hyperinflationary economy, the carrying amount of the property in the financial statements after restatement would be 80 million baht.
The property was purchased on December 31, 2018 for 20 million baht when the general price index was 60.1. On December 31, 2018, the general price index had risen to 240.4. For an entity operating in a hyperinflationary economy, the carrying amount of the property in the financial statements after restatement would be 80 million baht.
Property was purchased on December 31,2018 for 20 million baht.
The general price index in
the country was 60.1 on that date. On December 31,2018, the general price index had risen to 240.4. If the entity operates in a hyperinflationary economy, what be the carrying amount in the financial statements of the property after restatement?
20 million baht
80 million baht
The following equity to an entity operating in a hyperinflationary economy:
Before After PAS29 Restatement Share capital 100 170 Revaluation 20 - reserve Retained earnings 30 - 150 270 What would be the balances on the revaluation reserve and retained earnings after the restatement for PAS 29?