CERTYNEX IFRS ACADEMY

Jolvane, which applies the cost model, transfers an investment property to owner-occupied property after an evidenced change in use. Cost: 6,000,000; accumulated depreciation: 1,500,000; fair value at the date of transfer: 7,200,000 (case data). At what carrying amount is the owner-occupied property recorded after the transfer?

7,200,000, the fair value at the date of transfer.

4,500,000, the carrying amount before the transfer.

6,000,000, the original cost without accumulated depreciation.

2,700,000, the difference between fair value and carrying amount.