A partial statement of financial position of Ivanhoe Ltd. on December 31, 2019, showed the following property, plant, and equipment assets accounted for under the cost model (accumulated depreciation includes depreciation for 2019): ort Buildings Less: accumulated depreciation Equipment Less: accumulated depreciation $337.000 137,000 $200,000 $125,000 45,000 80,000 Ivanhoe uses straight-line depreciation for its building (remaining useful life of 20 years, no residual value) and for its equipment (remaining useful life of 8 years, no residual value). Ivanhoe applies IFRS and has decided to adopt the revaluation model for its building and equipment, effective December 31, 2019. On this date, an independent appraiser assessed the fair value of the building to be $157,000 and that of the equipment to be $90,000 - Your answer is partially correct. Prepare the necessary general journal entries, if any, to revalue the building and the equipment as at December 31, 2019, using the asset adjustment method. rudit anunt titlar om automatically incenter when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and A partial statement of financial position of Ivanhoe Ltd. on December 31, 2019, showed the following property, plant, and equipment assets accounted for under the cost model (accumulated depreciation includes depreciation for 2019): ort Buildings Less: accumulated depreciation Equipment Less: accumulated depreciation $337.000 137,000 $200,000 $125,000 45,000 80,000 Ivanhoe uses straight-line depreciation for its building (remaining useful life of 20 years, no residual value) and for its equipment (remaining useful life of 8 years, no residual value). Ivanhoe applies IFRS and has decided to adopt the revaluation model for its building and equipment, effective December 31, 2019. On this date, an independent appraiser assessed the fair value of the building to be $157,000 and that of the equipment to be $90,000 - Your answer is partially correct. Prepare the necessary general journal entries, if any, to revalue the building and the equipment as at December 31, 2019, using the asset adjustment method. rudit anunt titlar om automatically incenter when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and