Skip to main content
IFRS Academy

CERTYNEX IFRS ACADEMY

Search the Academy

Home
My learning path
Exercises & quizzes
Cases
Workpapers
Exams
My progress

Journal entryExpertVariant — group VG.IAS36.000807Published

Question · Reversal for an individual asset

Belcastel Hôtels measures its buildings under the revaluation model. On a previous impairment of a building, a loss of 30,000 was charged against that building's revaluation surplus and a loss of 20,000 was recognised in profit or loss. At the reporting date, as the estimates have changed, a reversal of 35,000 must be recognised (given amount, determined under IAS 36 and the standard applicable to the building; depreciation effects are ignored). Record the reversal entry.

Prior loss charged against the revaluation surplus
30,000
Prior loss recognised in profit or loss
20,000
Reversal to be recognised
35,000
Your answer
  1. Line 1

    Account Accumulated impairment — building

  2. Line 2

    Account Reversal of impairment loss (income)

  3. Line 3

    Account Revaluation surplus (other comprehensive income)

← Back to the concept