Exercise 11-9 IFRS; revaluation of machinery; depreciation; partial periods [LO11-10] Dower Corporation prepares its financial statements according to IFRS. On March 31, 2018, the company purchased equipment for $240,000. The equipment is expected to have a six-year useful life with no residual value. Dower uses the straight-line depreciation method for all equipment. On December 31, 2018, the end of the companys fiscal year, Dower chooses to revalue the equipment to its fair value of $220,000. Required: 1. Calculate depreciation for 2018. 2a. Calculate the revaluation of the equipment. 2b. Prepare the journal entry to record the revaluation of the equipment. 3. Calculate depreciation for 2019. 4a. Calculate the revaluation of the equipment assuming that the fair value of the equipment at the end of 2018 is $195,000. 4b. Assume that the fair value of the equipment at the end of 2018 is $195,000. Prepare the journal entry to record the revaluation of the equipment.

My answers are some correct and some not, Can you please answer all the question by using the format as provided. Please show all the work process of how do you get the answers.

Please answer Req 1, Req 2A, Req 2B, Req3, Req 4A and Req 4B. (see attached for the full quesiton and answer format)

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Exercise 11-9 IFRS; revaluation of machinery; depreciation; partial periods [L011-10] Dower Corporation prepares its financial statements according to IFRS. On March 31, 2018, the company purchased equipment for $240,000. The equipment is expected to have a six-year useful life with no residual value. Dower uses the straight-line depreciation method for all equipment. On December 31, 2018, the end of the company's fiscal year, Dower chooses to revalue the equipment to its fair value of $220,000. Required: 1. Calculate depreciation for 2018. 2a. Calculate the revaluation of the equipment. 2b. Prepare the journal entry to record the revaluation of the equipment. 3. Calculate depreciation for 2019. 4a. Calculate the revaluation of the equipment assuming that the fair value of the equipment at the end of 2018 is $195,000. 4b. Assume that the fair value of the equipment at the end of 2018 is $195,000. Prepare the journal entry to record the revaluation of the equipment Req 1 2A 2B Req 4B Req 1 Req 28 Req 4A Req 48 Calculate depreciation for 2018 Calculate the revaluation of the equipment assuming that the fair value of the equipment at the not round your intermediate calculations. Round your final answers to nearest whole number.) Annual Choose Numerator: Choose n Factor 3195,000 Estimated Useful Life (yearsAnnual Depreciation 40,000 t minus Salvage Equipment Accumulated depreciation Book value 5 15,000 15,000 S 15,000 210,000195,000 30,000 $ 210,000 40,000 Year Annual Fraction of Yea 210,000 2018 40,000 x 30,000 Req 1 Req 2A 2B Req 3 4A 4B Req 1 Req 2A Req 28 Req 3 Req 4A Calculate the revaluation of the equipment. (Do not round your Intermedlate calculations. Roum whole number.) Assume that the fair value of the equipment at the end of 2018 is $195,000. Prepare the journal entry to record t revaluation of the equipment. (If no entry is required for a transaction/event, select "No journal entry required ir account field. Do not round your intermediate calculations. Round your final answers to nearest whole number.) Factor Revaluation Equipment Accumulated depreciation Book value 10,000 10 DD0 10.DD0 $220,000/ $210,000S 220,000/ $210,000 $ 220,000 30,000 $ 210,.000 View transaction list View journal entry worksheet 220,000/$210,000 Event General Journal Debit Revaluation surplus-ocI 5,000 15,000 Req 2A Req 28 Req 3 eq Req 4B Req 4B Calculate depreciation for 2019. (Round your denominator answer to 2 decimal places.) Annual Depreciation hoose Numerator: Choose ost minus Salvage stimated Units of Production | = | Depreciation Expense 220,000 41,905