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calculate in detailed Question 5 (2 marks): In the 01 January 2011, Sonner Ltd acquired the equipment A by S502,000. Estimated useful life is 10
calculate in detailed
Question 5 (2 marks): In the 01 January 2011, Sonner Ltd acquired the equipment A by S502,000. Estimated useful life is 10 years, estimated residual value is $2.000. Company uses straight-line method for depreciation. From 2014, Sonner Ltd measure the equipment by the revaluation model. At 30 June 2014, equipment A was revalued to $ 500,000. After one year, at 30 June 2015, equipment A was revalued to $300,000. Required : Prepare the journal entries from 01 January 2011 to 30 June 2015. (using both method for revaluation)Step by Step Solution
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