Property was purchased on December 31,2018 for 20 million baht.

The general price index in

the country was 60.1 on that date. On December 31,2018, the general price index had risen to
240.4. If the entity operates in a hyperinflationary economy, what be the carrying amount in the
financial statements of the property after restatement?

20 million baht

80 million baht

The following equity to an entity operating  in a hyperinflationary economy:

  Before After
  PAS29 Restatement
Share capital 100 170
Revaluation 20  -
reserve
Retained earnings 30  -
  150 270
What would be the balances on the revaluation reserve and retained earnings after
the restatement for PAS 29?

Revaluation reserve 0, retained earnings 100