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At December 31, 2020, the end of its first year of operations. Coronado SA chose to use the revaluation framework allowed under IFRS. Coronado's ledger

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At December 31, 2020, the end of its first year of operations. Coronado SA chose to use the revaluation framework allowed under IFRS. Coronado's ledger shows Equipment 770,000 and Accumulated Depreciation-Equipment 154.000. Independent appraisers determine that the plant assets have a fair value of 666.000. Record the revaluation. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit (To record depreciation expense) Using your answer from part (a), what would be the amount of Coronado's 2021 depreciation? Assume no change in the value of Coronado's equipment in 2021, a 4 year remaining life, and no residual value. (Credit account titles are automatically indented when amount is entered. Do not in tindent manually) Account Titles and Explanation Debit Credit (To record depreciation expense) Independent appraisers determine that the plant assets have a fair value of 542,000. Record the revaluation. (Ignore your answers to parts (a) and (b).) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record revaluation of plant assets) Using your answer from part (c), what would be the amount of Coronado's 2021 depreciation? Assume no change in the value of Coronado's equipment in 2021, a 4 year remaining life, and no residual value. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record depreciation expense)

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