Building A is acquired on 1st January 2012 for RM800, XXXXXXXXXXIt was depreciated using straightline method for 20 years. The first two years the company uses the cost model but adoptrevaluation...

Building A is acquired on 1st January 2012 for RM800,000.00. It was depreciated using straight line method for 20 years. The first two years the company uses the cost model but adopt revaluation model afterwards. Revaluations were conducted every three years. Fair values at the date of revaluation were RM693,000.00 in 2014; RM607,500.00 in 2017 and RM490,000.00 in 2020. Give one example when inventory on hand at the reporting date not measured at cost. Prepare journal entries to record revaluations. Show detailed calculations to support your answer.