Blackboard EXCO Remaining Time: 1 hour, 58 minutes. 13 seconds Question Completion Status CUHK Coro, owned a piece of land in New Territories and a high-end Neuroscience and Electrophysiology research equipment at the beginning of 2019. The company chose to use revaluation accounting to account for the land it has the following information related to this piece of land. Ear Valve January 1, 2010 HK$1.500.000 December 31, 2019 1.350.000 December 31, 2020 1.550,000 December 31, 2021 1.400.000 The equipment was purchased on January 3 2018 at a cost of HK$2.500.000 and estimated to be deprecated over 3 years with no residual value their value of the equipment on December 31, 2019. was measured to be $1.600.000 of CUHK sold equipment on December 31, 2019. the relevant costs were estimated to be HK$200.000. A valuation showed that the equipment was expected to penerate an annualet Income of HK$500.000 during 2020 2022 and would be disposed of for $160.000 at the end of 2022. An appropriate discount rate for this purpose was Required: tal [26 points Complete the following table. (ou con highlight and use CTRL-Cond CTRLV to copy and paste the below tobile to testtar for answering Prepare journal entries related to the land in 2019 2020 and 2021 2. Prepare journal entries related to the sale of the land, assuming the land is sold for HK$3.500.000 on December 15, 2021 before the valuation of that year, Other Comprehensive and Earning Date Impairment Lost for revers Land Fair value Accumulated Other Comprehensive income income Blackboard EXCO Remaining Time: 1 hour, 58 minutes. 13 seconds Question Completion Status CUHK Coro, owned a piece of land in New Territories and a high-end Neuroscience and Electrophysiology research equipment at the beginning of 2019. The company chose to use revaluation accounting to account for the land it has the following information related to this piece of land. Ear Valve January 1, 2010 HK$1.500.000 December 31, 2019 1.350.000 December 31, 2020 1.550,000 December 31, 2021 1.400.000 The equipment was purchased on January 3 2018 at a cost of HK$2.500.000 and estimated to be deprecated over 3 years with no residual value their value of the equipment on December 31, 2019. was measured to be $1.600.000 of CUHK sold equipment on December 31, 2019. the relevant costs were estimated to be HK$200.000. A valuation showed that the equipment was expected to penerate an annualet Income of HK$500.000 during 2020 2022 and would be disposed of for $160.000 at the end of 2022. An appropriate discount rate for this purpose was Required: tal [26 points Complete the following table. (ou con highlight and use CTRL-Cond CTRLV to copy and paste the below tobile to testtar for answering Prepare journal entries related to the land in 2019 2020 and 2021 2. Prepare journal entries related to the sale of the land, assuming the land is sold for HK$3.500.000 on December 15, 2021 before the valuation of that year, Other Comprehensive and Earning Date Impairment Lost for revers Land Fair value Accumulated Other Comprehensive income income