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Balance Sheet (extracts) as at 31st March, 2021
Assets Rs.

Non-Current Assets
Property, Plant and Equipment
Property ‘1’ 8,00,000

Property ‘2’ 9,50,000
17,50,000
Investment Properties
Property ‘3’ (1,200,000 – 80,000) 11,20,000

Equity and Liabilities
Other Equity
Revaluation Reserve
Property ‘1’ [8,00,000 – (7,50,000 – 75,000)] 1,25,000

The revaluation reserve should be routed through Other Comprehensive Income (subsequently not reclassified
to Profit and Loss) and shown in a separate column under Statement of Changes in Equity.

Working Notes:

Particulars Property 1 Property 2 Property 3
Purchase Price Rs. 7,50,000 Rs. 10,50,000 Rs. 12,00,000
Estimated Life 10 years 15 years 15 years
Depreciation for the year Rs. 75,000 Rs. 70,000 Rs. 80,000
Carrying Value as on Rs. 6,75,000 Rs. 9,80,000 Rs. 11,20,000
31st March, 2021
Fair Value as on Rs. 8,00,000 Rs. 9,50,000 Rs. 13,00,000
31st March, 2021
Subsequently Measurement at Fair Value Fair Value Cost
Revaluation Surplus / (Deficit) Rs. 1,25,000 (Rs. 30,000) -

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