Fill-out the table below and prepare the journal entries for 2018 and the sale in 2019 using (present necessary solutions): a. Proportional methodb. Elimination method

A2.4 - Revaluation On January 1, 2018, the following data was gathered regarding revaluation of the equipment: Cost Equipment 8,000,000 Accumulated Depreciation 4,500,000 Age of asset 9 years Fair Value 6.125,000 On January 2, 2019 the equipment was sold for 5,500,000 cash. Required: Fill-out the table below and prepare the journal entries for 2018 and the sale in 2019 using (present necessary solutions): a. Proportional method b. Elimination method Cost Replacement Cost Appreciation (RC-Cost) Equipment Accumulated Depreciation CA/FVIRS Depreciation 2018 Balance of Revaluation Surplus as of December 31, 2018 Gain on Sale of equipment on January 2, 2019 Fill-out the table (please refer to the #) Cost Replacement Cost Appreciation (RC-Cost) Equipment Accumulated 2. 5. 8 Depreciation CA/FV/RS 3 6. 9. Depreciation 2018 10 . Balance of Revaluation Surplus as of December 31, 2018 11. Gain on Sale of equipment on January 2, 2019 12