hi there,

I got the answer of part (a) i just need a answer of part (b)

just need the new carrying value of the equipment immediately after the revaluation downwards.

Current Active O Cersche.com where en 10. med12.00. The in Oct 2016 end the $2000 meth www.000.0 dward 2100 Durat Capend General mal Cr Det 5 Date Account and plantation 11 watch WIB (to correction (te record Game 11 HO SOOS NOG 114 536.00 As per tot 56.300 1920 LO 30611 100 LEDE 110110 30.450 ROBERT 100 100 Journal entries are as followed Formula table Cage Det M LEN OS Cad DED 306 - Meet us 10610 Dat Acompound 321 Eggers 00 SRSRSRS 3057 D Acceptance upon De A===== 1110 coupon To go before OC ICC (b) Your answer is incorrect. Calculate the new carrying value of the equipment immediately after the revaluation downwards. New carrying value Current Attempt in Progress On 1 July 2014, Capers Ltd purchased equipment with cash for a total cost of $ 203,500 including 10% GST. The estimated useful life of the equipment was 10 years, with an estimated residual value of $ 17,000. The entity's reporting period ends on 30 June, and it uses straight-line depreciation. On 1 July 2016, the entity revalued the equipment upwards by $ 20,000 to reflect the fair value. The revised useful life was 8 years and residual value was estimated at $ 9,000. On 1 January 2018, Capers Ltd revalued the equipment downwards by $ 23,100 to reflect the fair value. (a) Prepare the journal entries in relation to the equipment from the date of acquisition (Enter debit entries first followed by credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) entered. Do nol Ina Capers Ltd General journal Credit Debit $ Date Account and explanation 1/7/14 30/6/15 30/6/16 1/7/16 (To record equipment at carrying value before revaluation) ILM (To record revaluation) 30/6/17 1/1/18 (To record depreciation expense) 1/1/18 (To record equipment at carrying value before revaluation) (To record revaluation) 25 20 Capers Ltd General Journal Account and explanation Date Debit Credit 20 1714 Equipment GST paid Cash $185,000 $18,500 20 10 $203,500 20 12 $16,8001 30619 Depreciation expense Accumulated depreciation Equipment 33 $16.800 34 35 $16,800 30616 Depreciation expense Accumulated depreciation Equipment 30 $16,800 37 11 $33,600 19 $33,600 40 12 $20,000 $20,000 44 45 17/16 Accumulated depreciation Equipment Equipment To record equipment at carrying value before revaluation) Equipment Revaluation surplus (To record revaluation) 30617 Depreciation expense Accumulated depreciation-Equipment 1/1/18 Depreciation expense Accumulated depreciation Equipment (To record depreciation expense) 16 $20,300 $20,300 20 20 $10,150 50 $10,150 51 53 $30,4501 54 1/1/18 Accumulated depreciation Equipment Equipment (To record equipment at carrying value before revaluation) $30,450 55 56 57 $3,100 $20,000 SE Impairment loss Revaluation surplus Equipment (To record revaluation) 50 $23,100 50 Formula table