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A company uses straight-line depreciation and the revaluation method. The company purchased a building on May 1, 2020 for $800000. The building is expected to
A company uses straight-line depreciation and the revaluation method. The company purchased a building on May 1, 2020 for $800000. The building is expected to have a 20-year useful life with no residual value. The company applies the asset adjustment method to the building at the December 31, 2022 year end. The building's fair value is $600000. Calulate the revaluation:
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Government Auditing Standards
Authors: U.S. Government Accountability Office
1st Edition
B0C9S8NVST, 979-8851147746
