TAT 1급 (Tax Accounting Technician 1)

Practice session

Under General Accounting Standards for Non-Public Entities (일반기업회계기준 제10장 유형자산), Hanguk Co. acquired land on January 1, 2024, for KRW 100,000,000 and elected the revaluation model (재평가모형). On December 31, 2024, the appraised fair value of the land is KRW 125,000,000. How should the revaluation increase of KRW 25,000,000 be recognized in the financial statements?

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