FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An entity used the revaluation as subsequent measurement of office building at the beginning of 2019 for 1,125,000 with useful life of 10 years and

An entity used the revaluation as subsequent measurement of office building at the beginning of 2019 for 1,125,000 with useful life of 10 years and depreciated using straight line method. On December 21, 2020 the fair value is determined to be 1,170,000 and on December 31, 2020 the fair value is 800,000

Provide necessary entries for the year 2019 and 2020.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing The Risk Management Process

Auditing The Risk Management Process

Authors: K. H. Spencer Pickett

1st Edition

0471690538, 978-0471690535

More Books

Students also viewed these Accounting questions

Question

★★★★★
If you are given three different capacitors C1, C2, C3, how many different combinations of capacitance can you produce?

Answered: 1 week ago

Question

★★★★★
Recall from example 3, Chapter 25, that the differential model for the radial concentration profile of dissolved oxygen within one cylindrical engineered tissue bundle (Figure 25.8) is with boundary...

Answered: 1 week ago

Question

★★★★★
6. What is the root cause of homophobia on sport teams? What steps must be taken to overcome homophobia and heterosexism?

Answered: 1 week ago

Question

★★★★★
The following are financial statements for Germaine Company: The following information is also available for 2011: (a) Plant assets were sold for their book value of $180 during the year. The assets...

Answered: 1 week ago

Question

★★★★★
Yasmine is a regular remitter. On January 1, she paid an employee for December of last year. When should CRA receive her remittance by?

Answered: 1 week ago

Question

★★★★★
On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item as shown in Exhibit below. Item Inventory...

Answered: 1 week ago

Question

★★★★★
Required neat and clear handwritten solution with all steps. Knowing that a = 0.14 m, b = 0.54 m, c= 0.35 m and F = 3.6 kN, determine the magnitude of the force at point B. A B F KN C D bm am bm EO cm

Answered: 1 week ago

Question

★★★★★
Write a MATLAB script to visualize a 3 D plot of a parametric surface representing a spherical spiral. The parametric equations for a spherical spiral are given by: x ( ? , \ theta ) = Rsin ( ? ) cos...

Answered: 1 week ago

Question

★★★★★
What are the specific activities that could make up your project? pleaselist the activities with their information on immediate predecessor andcompletion time, in both a table, and PERT chart.

Answered: 1 week ago

Question

★★★★★
from your own experience, describe a situation in which you provided a double message. Did you intentionally provide it?

Answered: 1 week ago

Question

★★★★★
Free vibration of two rotor system The flywheel of an engine driving a dynamo has mass of 200kg and has a radius of gyration of 30cm. The shaft at the flywheel end has as an effective length of 25cm...

Answered: 1 week ago

Question

★★★★★
Describe the patterns of business communication.

Answered: 1 week ago

Question

★★★★★
4. Articulate how media exert influence on your attitudes and behaviors

Answered: 1 week ago

Question

★★★★★
3. Provide two explanations for the effects of mass media

Answered: 1 week ago

Previous Question Next Question