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ABC company has sold an equipment with a historical cost of AED200,000 and accumulated depreciation of AED 150,000. and the cash was collected from the
ABC company has sold an equipment with a historical cost of AED200,000 and accumulated depreciation of AED 150,000. and the cash was collected from the buyer.
Required:
- Make the required journal entries to reflect such a revaluation. (4 marks)
- Show the effect of the journal entry on the company cash flows statement. (6 marks)
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Financial Accounting The Impact On Decision Makers An Alternative To Debits And Credits
Authors: Gary A. Porter, Curtis L. Norton
4th Edition
0324272669, 978-0324272666
