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IAS 40 Investment Property Overview by xu l is a document available to read on EtoBox.

Here are the journal entries for this example: 1/1/X3 Dr Building (PPE) $10,000,000 Cr Cash $10,000,000 30/6/X5 (date of transfer) Dr Investment property $11,000,000 Cr Building (PPE) $11,000,000 The fair value on transfer date becomes the deemed cost for investment property. No gain or loss is recognized on transfer.

Author

xu l

Language

EN