Question
A Company Purchase a building on 1st January 2013 for $ 150,000. The useful life of assets was 10 years. On 1st January 2015, the
A Company Purchase a building on 1st January 2013 for $ 150,000. The useful life of assets was 10 years. On 1st January 2015, the company revalued the building to its currents fair value of $80,000. What would be the double entry to record this transaction?
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Auditing A Practical Approach
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton
4th Edition
0730382648, 978-0730382645
