Ivarne applies the cost model. On 30 September, it starts occupying a property previously leased, which evidences a change in use (case data). Cost of the property: 4,000,000; accumulated depreciation: 800,000; carrying amount: 3,200,000. Record the transfer entry to owner-occupied property.
- Cost of the property
- 4,000,000
- Accumulated depreciation
- 800,000
- Carrying amount before transfer
- 3,200,000