Pêcheries du Ponant hold a transferable fishing authorisation, with an indefinite useful life and not amortised, measured under the revaluation model. At the previous revaluation, a decrease of 12,000 was recognised in profit or loss for this asset, whose carrying amount was brought down to 188,000. At the year-end, fair value measured by reference to the active market is 228,000. Ignore deferred tax effects. Record the revaluation entries.
- Previous decrease recognised in profit or loss
- 12,000
- Carrying amount before revaluation
- 188,000
- Fair value at the year-end
- 228,000