Sorel measures its investment property portfolio at fair value. Opening carrying amount: 8,000,000. During the period, it acquires a property for 1,500,000 and sells another whose carrying amount was 600,000. The fair value of the portfolio at the reporting date is 9,400,000. Calculate the fair value gain for the period.
- Opening carrying amount
- 8,000,000
- Acquisitions in the period
- 1,500,000
- Disposals at carrying amount
- 600,000
- Closing fair value
- 9,400,000