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