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3. The carrying amount of property owned by X Ltd at the end of the year amounted to $216,000. On this date the property
3. The carrying amount of property owned by X Ltd at the end of the year amounted to $216,000. On this date the property was revalued to fair value of $190,000. The balance on the revaluation reserve relating to the original gain of the property was $34,000 What is the double entry to record the revaluation?
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Heres the double entry to record the revaluation of the property for X Ltd Revaluation Loss 26000 Pr...
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International Accounting
Authors: Timothy Doupnik, Hector Perera
3rd Edition
978-0078110955, 0078110955
