Response to the following problem:
Retailer marks up land and buildings The balance sheet of Marks and Spencer plc, a major high street retailer, as at 1 April 2006 reveals land and buildings at a net book value, or carrying amount, of £2,310.0m. These land and buildings were revalued by a firm of independent surveyors two years earlier and this has been reflected in subsequent balance sheets. The effect of the revaluation was to give an uplift of £530.9m against the previous carrying amount.