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Current Attempt in Progress Camco Manufacturers Inc., a publicly listed company, has two machines that are accounted for under the revaluation model. Technology in Camco's
Current Attempt in Progress Camco Manufacturers Inc., a publicly listed company, has two machines that are accounted for under the revaluation model. Technology in Camco's industry is fast-changing, causing the fair value of each machine to change significantly about every two years. The following information is available: Both machines were last revalued on December 31, 2021. Camco has a December 31 year end. Prepare a continuity schedule showing for each machine the amounts recorded to the Machine account and to the Accumulated Depreciation account, as well as indicating the carrying amount for each fiscal year from date of purchase to December 31,2023. Prepare a continuity schedule showing for each machine the amounts recorded to the Machine account and to the Accumulated Depreciation account, as well as indicating the carrying amount for each fiscal year from date of purchase to December 31,2023 . Isine (1) the ascet adiustment mothnd and (2) the nronortionate method (Fnter neeative amounts using either a neoative sien Revaluation Model - Asset Adjustment Method d Revaluation Model - Proportionate Method Carrying Amount \begin{tabular}{lll} & RevaluationModel-Proportionate Method \\ \hline Mach. \#2 Accum. Depr. & Carrying Amount \end{tabular} $ $ Current Attempt in Progress Camco Manufacturers Inc., a publicly listed company, has two machines that are accounted for under the revaluation model. Technology in Camco's industry is fast-changing, causing the fair value of each machine to change significantly about every two years. The following information is available: Both machines were last revalued on December 31, 2021. Camco has a December 31 year end. Prepare a continuity schedule showing for each machine the amounts recorded to the Machine account and to the Accumulated Depreciation account, as well as indicating the carrying amount for each fiscal year from date of purchase to December 31,2023. Prepare a continuity schedule showing for each machine the amounts recorded to the Machine account and to the Accumulated Depreciation account, as well as indicating the carrying amount for each fiscal year from date of purchase to December 31,2023 . Isine (1) the ascet adiustment mothnd and (2) the nronortionate method (Fnter neeative amounts using either a neoative sien Revaluation Model - Asset Adjustment Method d Revaluation Model - Proportionate Method Carrying Amount \begin{tabular}{lll} & RevaluationModel-Proportionate Method \\ \hline Mach. \#2 Accum. Depr. & Carrying Amount \end{tabular} $ $
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